Which of the following is true regarding the government-wide Statement of Activities?
A) In the government-wide Statement of Activities, "special items" are those items that are both unusual and infrequent and are not under the control of management.
B) Transfers between governmental and business type activities are eliminated and do not appear on the government-wide Statement of Activities.
C) The Statement of Activities includes depreciation expense.
D) Taxes levied, including those restricted to a particular purpose, are reported as program revenue.

Question

Quizplus · Accepted Answer

In the government-wide statements, "special items" are items within the control of management but which are unusual in nature or infrequent in occurrence. Transfers between governmental and business-type activities are displayed in the general revenues section and offset. All taxes levied by the government, including those restricted to a particular purpose, are reported as general revenues.

Which of the Following Is True Regarding the Government-Wide Statement