The summary of significant accounting policies must make which of the following general disclosures?
a) The policy for applying FASB pronouncements issued before November 30, 1989, to business-type activities
b) The policy for defining operating and nonoperating revenues of proprietary funds
c) The measurement focus and basis of accounting of the fund financial statements
d) The capital acquisition for the period presented by major classes
Answer: B
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.