Governmental Activities Fund Statements Must Be Changed to the Accrual

question 79

True/False

Governmental activities fund statements must be changed to the accrual basis from the modified accrual basis when preparing government-wide financial statements.

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Definitions:

Switch Rows Columns

A feature in spreadsheet and charting software that allows users to change the orientation of data, swapping the data in rows with data in columns.

Legend

An area on a chart or map that explains the symbols, colors, or patterns used, making the data easier to understand.

Extract Seconds

The process of isolating and retrieving only the second components from a set of time data.

SECOND(B1)

A function in spreadsheet software that returns the second component (value from 0 to 59) of a time value specified in cell B1.