What is NOT a GAAP requirement for presenting data on major individual discretely presented component units?

The reasoning behind the correct option lies in understanding the requirements for presenting data on major individual discretely presented component units according to GAAP. One significant aspect is that GAAP does not mandate the inclusion of combining statements within the basic financial statements themselves. Instead, it allows for combining statements to be included in other sections of the Comprehensive Annual Financial Report (CAFR) rather than being a strict requirement of the basic financial statements.

This provides flexibility in how the financial information is structured and presented, allowing for a clearer distinction between the various elements of financial reporting. Presenting this information in separate columns or providing condensed financial statements in the notes is aligned with the GAAP requirements, as these methods enhance the transparency and accountability of financial reporting for component units.

By placing combining statements in a subsection of the CAFR rather than within the basic financial statements, organizations can maintain clarity while adhering to GAAP, thus reinforcing the accuracy and reliability of financial data concerning individual discretely presented component units.