The government-wide statement of activities

Question

Quizplus · Accepted Answer

The government-wide statement of activities distinguishes between governmental and business-type activities because it is prepared using the economic resources measurement focus and accrual basis of accounting. This statement reports all of the government's functions in a single column format, including both operating and nonoperating revenues and expenses, and is not limited to major funds, nor does it exclude direct expenses of governmental and business-type activities. Discretely presented component units are also included in this statement.

The Government-Wide Statement of Activities