Which of the following elements properly will not be displayed as a specific item in a government-wide statement of activities prepared by a city or county government?

Question

Quizplus · Accepted Answer

Interfund reimbursements represent transactions between funds within the same government and therefore do not reflect the economic resources available to the government as a whole. Program revenues (A), interest expense on long-term debt (C), and the beginning net position balance(s) (D) all reflect the financial activities of the entire government and are therefore appropriate to include in a government-wide statement of activities.

Which of the Following Elements Properly Will Not Be Displayed