Under the GASB Statement No

question 27

Multiple Choice

Under the GASB Statement No.34 reporting model, the focus of the government-wide statement of activities is on which of the following?

• A)Program revenues and general revenues.
• B)Program revenues and expenses.
• C)Net income.
• D)The net cost of each of the government's main functions and programs.

---

Definitions:

Average Investment

A calculation to assess the average amount of investment over a certain period, often used in evaluating the efficiency or profitability of an investment.

Time Value of Money

The concept that money available at the present time is worth more than the same amount in the future due to its earning capacity.

Net Present Value

A calculation that compares the value of a dollar today to the value of that same dollar in the future, taking inflation and returns into account.

Present Value Factor

A factor used to calculate the present value of a future amount of money or stream of cash flows given a specific rate of return.