_____ Regarding external financial reporting for governmental units, which of the following funds are excluded from the government-wide statements?

Question

Quizplus · Accepted Answer

Fiduciary Funds are excluded from government-wide statements because they are not considered to be resources that are available to fund the government's own programs. These funds are held in a trustee or agency capacity for others and therefore are not reported in the governmental activities or business-type activities of the government-wide financial statements.

_____ Regarding External Financial Reporting for Governmental Units, Which of the Following