Which of the following is true regarding the governmental fund statements?
A. Both The governmental fund statements include a Statement of Cash Flows prepared on the direct method; and the governmental fund statements are prepared using the economic financial resources measurement focus and modified accrual accounting are true.
B. The governmental fund statements include a Statement of Cash Flows prepared on the direct method.
C. The governmental fund statements are prepared using the economic financial resources measurement focus and modified accrual accounting.
D. Neither the governmental fund statements include a Statement of Cash Flows prepared on the direct method; nor the governmental fund statements are prepared using the economic financial resources measurement focus and modified accrual accounting is true.
Answer: D
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