Which of the Following Is True Regarding Accounting for Investments

question 56

Multiple Choice

Which of the following is true regarding accounting for investments of permanent funds?

• A) Investments with determinable fair values must be reported at fair value.
• B) Gains and losses on investments would not be reported in the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances but are reported in the government-wide Statement of Activities
• C) Both of the above are true.
• D) Neither of the above is true

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