Which of the Following Is false Regarding Government-Wide Financial Statements

question 46

Multiple Choice

Which of the following is false regarding government-wide financial statements?

• A) Government-wide financial statements are prepared using the accrual method of accounting
• B) General capital assets are required to be reported on the government-wide balance sheet.
• C) GASB requires a reconciliation from fund financial statements to government-wide financial statements.
• D) Worksheet entries are required to change the enterprise fund financial statements to the accrual basis of accounting.

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Definitions:

Hydrogen Bond

An insubstantial attachment between two molecules produced by the electrostatic allure between a proton of one molecule and an electronegative atom of the other.

Ions

Atoms or molecules that have lost or gained one or more electrons, thus acquiring an electric charge.

Respective Charges

The specific electrical charges on particles or objects, usually defined as positive or negative, which determine their electromagnetic interactions.

Solvent

A substance, typically a liquid, capable of dissolving other substances to form a solution.