For the government-wide statements,governmental activities are to be presented separately from the financial statements of business-type activities.

Question

Quizplus · Accepted Answer

This is correct according to the reporting requirements of Generally Accepted Accounting Principles (GAAP) for government-wide financial statements, which require the separation of financial information between governmental and business-type activities in order to provide transparency and accountability for the use of public resources.

For the Government-Wide Statements,governmental Activities Are to Be Presented Separately