The Governmental Activities column of the government-wide statement of net position differs from the General Fund balance sheet in that it reports both current and noncurrent assets and liabilities.

Question

Quizplus · Accepted Answer

These are the primary differences discussed in Chapter 4. Other differences depicted in Illustration 4-1 are format differences and the usual practice of reporting government-wide financial information in a more condensed manner.

The Governmental Activities Column of the Government-Wide Statement of Net