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Please Answer True or False The Statistical Section of the CAFR contains statements that compare 10-years...

Please Answer True or False

  1. The Statistical Section of the CAFR contains statements that compare 10-years worth of data for comparison purposes.

  2. The required information in the Introductory section of the CAFR includes a letter of transmittal and an organizational chart.

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Answer #1

1. The Statistical Section of the CAFR contains statements that compare 10-years worth of data for comparison purposes: True

Explanation: The Statistical Section of Comprehensive Annual Financial Report (CAFR) helps the users of this section to assess the economic condition of the governement. It also helps the users to understand the activities conducted by the government. Under this section, the governement discloses information of 10 years related to finance, operations and the economic condition.

2. The required information in the Introductory section of the CAFR includes a letter of transmittal and an organizational chart: False

Explanation: The Introductory Section of CAFR needs to contain the letter of transmittal and Other Matters as deemed appropriate by the Government.

The Organization Chart may be presented under additional information of the Introductory Section.

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