The government-wide statement of net position is prepared using the same measurement focus and basis of accounting as the General Fund balance sheet.

Question

Quizplus · Accepted Answer

The government-wide statement of net position is prepared using the accrual basis of accounting and economic resources measurement focus, whereas the General Fund balance sheet is prepared using the modified accrual basis of accounting and current financial resources measurement focus.

The Government-Wide Statement of Net Position Is Prepared Using the Same