Under the GASB Statement No.34 reporting model, the focus of the government-wide statement of activities is on which of the following?
A)Program revenues and general revenues.
B)Program revenues and expenses.
C)Net income.
D)The net cost of each of the government's main functions and programs.

Question

Quizplus · Accepted Answer

The government-wide statement of activities focuses on the net cost of each of the government's main functions and programs, which includes expenses, revenues (both program revenues and general revenues), and changes in net position. This aids in providing a comprehensive understanding of the government's financial activities and outcomes for the period covered.