Which of the following statements is false?
a. a complete cafr includes combining financial statements to reflect major funds.
b. the three major sections of a cafr are the introductory, financial, and statistical sections.
c. state and local governments are not required to prepare a cafr.
d. the general fund is not always considered to be a major fund when preparing fund basis financial statements.
e. with respect to fund basis financial statements, a government may designate any fund to be a major fund if reporting that fund separately would be useful.