The Total Fund Balances Presented in Governmental Funds Statements Are

question 3

Multiple Choice

The total fund balances presented in Governmental Funds Statements are different from the total net assets on the government-wide Statement of Net assets.Which of the following is not a reason for this difference?

• A) The two statements have different bases of accounting
• B) Capital assets used in government operations are not financial resources and therefore are not reported in the funds
• C) Some liabilities are not due and payable in the current period and are not reported in fund liabilities
• D) Receivables in the fund statements are reported on the statement of net assets as deferred revenue

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Definitions:

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An Eaton Fuller Roadranger family of electronically automated standard transmissions: phased out in North America but widely used offshore.

Neutral

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The electrical subsystem within a vehicle's chassis, including wiring, fuses, and control modules that manage electrical components.

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An Automated Manual Transmission produced by Eaton, which combines manual gearbox efficiency with automatic transmission convenience.