When Converting the Multiple Governmental Funds to the Single Entity

question 40

Multiple Choice

When converting the multiple governmental funds to the single entity represented by the governmental activities in the government-wide financial statements, which of the following adjustments will not be necessary?

• A) Converting the cash account to reflect the different basis of accounting.
• B) Adjusting for capital assets.
• C) Adjusting for long-term liabilities.
• D) Converting fund balance to net position.

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Definitions:

Decisions

The process of making choices or conclusions after considering available information and alternatives.

Hypertension

A medical condition characterized by consistently high blood pressure levels, which can increase the risk of heart disease and stroke.

Visible Symptoms

Signs of a disease or condition that can be seen externally on the body.

Set Points

Theoretical points representing the natural equilibrium or homeostasis of the body's physiological state, such as weight or metabolic rate, around which the body regulates itself.