The Focus of Governmental Funds in Fund Accounting Is A(n)

question 2

Multiple Choice

The focus of governmental funds in fund accounting is a(n) :

• A)Economic Resource Measurement Focus.
• B)Financial Resources Measurement Focus.
• C)Cash Flow Measurement Focus.
• D)Accrual Measurement Focus.

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Definitions:

Balance Sheet Columns

Sections in a balance sheet presenting assets, liabilities, and shareholders' equity at a specific point in time.

Work Sheet

An informal document used by accountants to organize and consolidate financial information for the preparation of financial statements.

Balance Sheet

A balance sheet that illustrates a corporation's resources, outstanding debts, and the net worth held by shareholders at a pinpointed moment.

Statement of Retained Earnings

A financial statement that shows changes in a company's retained earnings over a specific period.