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The minimum amount of detail permitted by GAAP for governmental fund expenditure
classifications in the basic financial statements is by
A. fund
B. function (or program)
C. Fund and function (or program)
D. fund, function (or program), organizational unit, and activity.
Solution
Option D is correct
Explanation : generally governmental fund account for everything else. We spent for many
activities like functions, programs ,social services ,police fire, sanitation and so on.

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The minimum amount of detail permitted by GAAP for governmental fund.pdf

  • 1. The minimum amount of detail permitted by GAAP for governmental fund expenditure classifications in the basic financial statements is by A. fund B. function (or program) C. Fund and function (or program) D. fund, function (or program), organizational unit, and activity. Solution Option D is correct Explanation : generally governmental fund account for everything else. We spent for many activities like functions, programs ,social services ,police fire, sanitation and so on.