Which of the following financial statement(s)reports both current and noncurrent assets and liabilities? Government-wide Statement
Of Net Position
General Fund Balance Sheet
a)No,Yes
b) No,No
c) Yes,No
d) Yes,Yes
A) Choice A
B) Choice B
C) Choice C
D) Choice D

Question

Quizplus · Accepted Answer

The Government-wide Statement of Net Position reports both current and noncurrent assets and liabilities for the entire government entity. The General Fund Balance Sheet only reports current assets and liabilities for the General Fund, which is just one fund within the government entity.

Which of the Following Financial Statement(s)reports Both Current and Noncurrent