the fund-based and government-wide financial statements of a state or local government and the primary differences between

What is  the composition of a state or local government’s comprehensive annual financial report (CAFR)?

Which of the following identifies the reason that we need reconciliations between governmental funds and government-wide governmental activities (select all that apply)? Internal service funds are often categorized as governmental funds. Governmental funds use the modified accrual basis of accounting, and the government-wide governmental activities use the accrual basis of accounting. Internal service funds are often categorized as governmental activities. Governmental funds use the accrual basis of accounting, and the government- wide governmental activities use the modified accrual basis of accounting.

Describe the purpose and the financial reporting requirements for the General and Special Revenue Funds. Include the way the modified basis of accounting is used to account for revenues and expenditures along with the use of budgetary accounts in your discussion.