In which of the following locations could a budgetary comparison for the general fund be found?

Prepare for the CPFO Accounting Test. Study with multiple choice questions, each with hints and explanations. Set yourself up for success!

A budgetary comparison for the general fund can be found in various locations within a government’s financial reporting.

In the basic financial statements, the budgetary comparison shows how actual inflows and outflows align with the budget estimates, providing transparency and accountability regarding financial performance.

Required supplementary information (RSI) typically includes additional disclosures that further explain the financial position of the government, including budgetary comparisons. This information is crucial for users who want to understand the budget deviations and the reasons behind them.

The financial section of the comprehensive annual financial report (CAFR) encompasses the basic financial statements and any required supplementary information. This section, therefore, would include budgetary comparisons as part of the overall financial picture of the entity.

Since each of these components can individually contain budgetary comparison information, all these locations are indeed relevant for presenting the budgetary comparison for the general fund.

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