Which of the following is true regarding the government-wide statements?
A) The government-wide statements include a Statement of Net Position and a Statement of Activities.
B) The governmental activities portion of the government-wide statements is prepared using the current financial resources measurement focus and modified accrual basis of accounting.
C) Neither of the above.
D) Both of the above.

Question

Quizplus · Accepted Answer

The government-wide statements are the Government-wide statement of Net Position and the Government-wide Statement of Activities. Government-wide statements are prepared using the accrual basis of accounting and the economic resources measurement focus.

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