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 governmental activities column in the government-wide Statement of Net Assets, both the balances of internal service funds and fixed assets, net of depreciation, are added. This is because governmental funds focus on current financial resources, while the government-wide statements include all economic resources.

Which of the Following Adjustments Would Be Made When Moving