All of the Following Transactions Could Potentially Be Reconciling Items

question 23

Multiple Choice

All of the following transactions could potentially be reconciling items between the governmental fund financial statements and government-wide governmental activities column except

• A) The purchase of capital assets.
• B) Accrual of compensated absences liability.
• C) Issuance of long-term debt.
• D) Borrowing from a local bank with a short-term loan.

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Definitions:

Tainos

Indigenous peoples of the Caribbean, the first Native Americans to encounter Christopher Columbus and his men upon their arrival in the New World.

Lucrative Relations

Relationships, either between countries or businesses, that are highly profitable and beneficial to the parties involved.

Civilization

A complex society characterized by the development of forms of government, social stratification, urbanization, and symbolic systems of communication such as writing.