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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Definitions:

Nondisclosure

An obligation not to reveal confidential information or secrets.

Fraudulent Misrepresentation

The act of intentionally making false statements to deceive others, leading to legal harm or loss.

Intent to Deceive

The purposeful act of misleading or deceiving someone to gain advantage or cause harm.

False Statement

A misrepresentation or untrue declaration, especially one made intentionally, that can impact legal contracts, financial documents, or public declarations.