Question

What is the minimum nubmer of funds required to be used by a governmental unit? a....

What is the minimum nubmer of funds required to be used by a governmental unit?

a. One; the general fund

b. two; general and one permanent fund

c. as many as necessary to fulfill legal requiresments and sound financial admiitstration

d. A & C

Which of the following is true regarding the COmprehensive Annual Financial Report (CAFR)?

a. The CAFR has three main sections: introductory, financial, and statistical

b. Required Supplementary Information includes a Budgetary Comparison Schedule for the General fund and all major special revenue funds that have a legallly adopted annual budget (unless a satement is prepared).

c. Both of the above

d. Neither of the above

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