Rule: Government reporting standards established by GASB 34 require presentation of basic financial statements and required supplementary information. Basic financial statements are defined as government-wide financial statements, fund financial statements, and notes to the financial statements. Supplementary information covers a wide range of information including management's discussion and analysis and supporting schedules, such as combining financial statements by fund type and budget versus actual presentations. Choice "C" is correct. Basic financial statements include government-wide financial statements, fund financial statements and notes to the financial statements.Choice "d" is incorrect. Management's discussion and analysis and required supplementary information represent part of the total requirement to meet GASB 34 reporting standards, not the basic financial statements.Choice "a" is incorrect. The Statement of Net Position and Statement of Activities are included in the government-wide financial statements.
Choice "b" is incorrect. The Statement of Net Position and Statement of Activities are included in the government-wide financial statements. The "Statement of Public Accountability" is a well-designed distracter.