Which of the Following Adjustments Would Be Made When Moving

question 65

Multiple Choice

Which of the following adjustments would be made when moving from the governmental funds balance sheet to the governmental activities column in the government-wide Statement of Net Position?

• A) Add balances of internal service fund assets and liabilities.
• B) Add beginning capital assets, net of depreciation.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Compounded Semi-annually

Denotes the method of applying interest to a principal sum at mid-year and end of the year.

Ordinary General Annuity

A stream of equal payments made at regular intervals over a fixed period of time, where the payment period coincides with the interest period.

Present Value

The present estimate of a forward-looking sum of money or sequence of cash returns, using a determined rate of return.

Ordinary General Annuity

A series of equal payment or receipt amounts that occur at evenly spaced intervals over a fixed period, with payments made at the end of each period.