The government-wide statement of net position includes all but which one of the following items?

Question

Quizplus · Accepted Answer

The government-wide statement of net position includes all financial information on a government-wide scale except for the unassigned fund balance, which is a component of the governmental funds financial statements, not the government-wide statements. The government-wide statements include capital assets (such as buildings and equipment), intangible assets, and long-term liabilities (such as bonds payable), but not fund balances which are specific to fund accounting.

The Government-Wide Statement of Net Position Includes All but Which