Government-wide financial statements should include

Question

Quizplus · Accepted Answer

Government-wide financial statements should include both the statement of net assets (which shows the government's assets, liabilities, and net position) and the statement of activities (which shows the government's revenue, expenses, and changes in net position). These statements provide a comprehensive view of the government's financial position and activities. The statement of cash flows may also be included, but it is not required for government-wide financial statements.

Government-Wide Financial Statements Should Include