In Reconciling the Total Fund Balances of the Governmental Funds

question 46

Multiple Choice

In reconciling the total fund balances of the governmental funds to the net position of governmental activities, which of the following would be added to the net position of governmental activities?

• A) Accumulated depreciation.
• B) Premium on bonds payable.
• C) Construction work in progress.
• D) Bond interest payable.

---

Definitions:

Cumulative Summary

A consolidated report that aggregates data or information over a period, providing a total overview.

FICA Taxes

Taxes imposed on both employees and employers to fund Social Security and Medicare, based on a percentage of earned wages.

Payroll Tax Expense

Payroll tax expense includes taxes imposed on employers or employees, and is based on the wages, salaries, and tips paid to the employees.

State Unemployment Taxes

Taxes imposed by state governments on employers to fund unemployment insurance benefits for laid-off workers.