In which situation is comparative data required to be presented?

The correct choice is that comparative data is required to be presented in both government-wide financial statements and fund financial statements. In financial reporting, especially for governmental entities, comparative data serves an important role in enhancing transparency and accountability.

Government-wide financial statements provide a comprehensive view of the government's overall financial position and activities, presenting information on all governmental and business-type activities. The inclusion of comparative data in these statements assists users in understanding trends over time, indicating the financial health and operational efficiency of the government.

Similarly, fund financial statements focus on the individual funds of a governmental entity, providing detailed information about specific activities and financial positions. Presenting comparative data in this context allows stakeholders to assess changes in fund balances, revenues, and expenditures over multiple reporting periods.

In contrast, while management’s discussion and analysis is an important document that may include comparative data for the reader's benefit, it is not mandated to present systematic comparative financial data in the same way that the other financial statements are required to do. Therefore, only the government-wide and fund financial statements explicitly require this comparative data for clarity and to ensure comprehensive financial reporting.