31.Comparison of the legally approved budget with actual results of the General Fund is
not
part of required supplementary information in the CAFR.
32.Comparison of the legally approved budget with actual results of the General Fund is included as part of required supplementary information in the CAFR.
33.Long-term debt that is to be paid with tax revenues is not reported both in the government-wide statements and in the governmental fund statements
34.Measurement focus refers to those items, such as current and long-term assets, that are being reported on the financial statements.
35.Infrastructure is capitalized by state and local governmental units.
36.Fiduciary funds include agency, pension trust, investment trust, and permanent funds.
37.The Financial Accounting Standards Board has authority to establish accounting and financial reporting standards for both private and state universities.
38.FASB sets the reporting standards for private not-for-for profits.
39.Internal Service funds are treated as governmental activities in the government-wide statements if the principal customers are other departments within the General Fund.
40.Permanent funds can be either a governmental fund or a fiduciary fund where only income on donated assets may be spent.