Regarding external financial reporting for governmental units, the activities to be reported in the government-wide statements are (a) governmental, (2) business-type, and (3) fiduciary.

Question

Quizplus · Accepted Answer

In government-wide financial statements, only governmental and business-type activities are reported. Fiduciary activities are reported separately in the fiduciary fund financial statements, not in the government-wide statements.

Regarding External Financial Reporting for Governmental Units, the Activities to Be