When converting fund financial records to government-wide financial statements,worksheet entries are made to eliminate all of the following accounts expect:

Question

Quizplus · Accepted Answer

Interest Payable is not eliminated because it is a liability that needs to be reported in the government-wide financial statements, unlike the other accounts which are eliminated to adjust for the differences between fund accounting and government-wide reporting.

When Converting Fund Financial Records to Government-Wide Financial Statements,worksheet Entries