Question

Required supplementary information (RSI) of a state or local government other than management’s discussion and analysis (MD&A) includes
I Individual fund statements
II. Combining statements
III. Budgetary comparison schedules

a) II and III.
b) III.
c) I and III.
d) I and II.

Answer 1

Answer:

b) III.

Explanation:

Required Supplementary Information (RSI) of a state or local government includes the Management’s Discussion and Analysis (MD&A) section. Other than this, there is a separate section which includes the following:

- Schedules

- Statistical Data

- Budgetary Comparison Schedules & Other Information.

Required Supplementary Information includes Budgetary comparison schedules but does not includes remaining options given the question such as Individual fund statements and Combining statements.