Which of the Following Statements Concerning the Reporting of Internal

question 13

Multiple Choice

Which of the following statements concerning the reporting of internal balances by a government at the end of its fiscal year is ?

• A) The internal balances amounts reported in the balance sheet columns represent activity among governmental funds.
• B) The internal balances amounts reported in the statement of net position columns represent activity between governmental activities and business-type activities.
• C) The internal balances amounts are reported in both the asset and liability sections on the statement of net position.
• D) The internal balances amounts reported represent the difference between interfund transfers in and interfund transfers out.

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