Which of the following adjustments would be made when moving from the governmental funds balance sheet to the governmental activities column in the government-wide Statement of Net Assets?

Question

Quizplus · Accepted Answer

When moving from the governmental funds balance sheet to the government-wide statement of net assets, it is necessary to make adjustments for items that were not included in the governmental funds financial statements. This includes adding the balances of internal service fund assets and liabilities and adding beginning capital assets, net of depreciation. Therefore, both options A and B are correct.

Which of the Following Adjustments Would Be Made When Moving