In both the fund statements and the government-wide statements, business-type activities and internal service funds are on a full accrual basis, and their measurement focus is on all economic resources.

Question

Quizplus · Accepted Answer

Both business-type activities and internal service funds in governmental accounting are reported on a full accrual basis in both the fund statements and the government-wide statements, focusing on all economic resources. This approach reflects all assets and liabilities, not just current ones, providing a comprehensive view of the financial position.

In Both the Fund Statements and the Government-Wide Statements, Business-Type