The governmental-type funds' Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balances serve as inputs to the governmental activities sections of the government-wide statements. However, because the fund-basis statements reflect modified accrual accounting, they must be adjusted to the accrual basis.

Question

Quizplus · Accepted Answer

Governmental-type funds' Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balances serve as inputs to the governmental activities sections of the government-wide statements. The governmental funds use the modified accrual accounting and the current financial resources focus so they must be adjusted when preparing the government-wide statements.

The Governmental-Type Funds' Balance Sheet and Statement of Revenues, Expenditures