Which of the following is true regarding the government-wide Statement of Net Position?

Question

Quizplus · Accepted Answer

Assets and liabilities are reported in order of liquidity or GASB standards permit but does not require reporting a classified statement with subtotals for current assets and liabilities. Governmental funds are not reported in the state-wide statements. Balances from an enterprise fund's Statement of Net Position and Statement of Revenues, Expenses, and Changes in Fund Net Position are entered directly to the business-type activities sections of the government-wide statements.

Which of the Following Is True Regarding the Government-Wide Statement