Which of the following statements regarding Management's Discussion and Analysis is true? Multipl...

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Question

Which of the following statements regarding Management's Discussion and Analysis is true? Multipl...

Which of the following statements regarding Management's Discussion and Analysis is true?

Multiple Choice

A) MD&A is required only for Proprietary Fund Financial Statements.

B) MD&A is reported in the statistical section of the annual report.

C) MD&A is required for comprehensive annual financial reports.

D) MD&A for state and local government financial statements must include an analysis of potential, untapped revenue sources.

E) MD&A is an optional inclusion for state and local government financial statements.

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Answer 1

Answer #1

The Correct option is (C)

MD&A is required for comprehensive annual financial reports.

MD&A is part of the required supplementary information required in the financial section of the CAFR.

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Answer 2

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