Which of the Following Statements Is Not Correct

question 155

Multiple Choice

Which of the following statements is not correct?

• A) Worksheet entries are posted to the general ledger when preparing the government-wide statements and then reversed at the beginning of the next fiscal year.
• B) Fixed assets acquired through proprietary and fiduciary funds are reported in the Statement of Net Assets of those funds.
• C) GASB requires that general fixed assets be included in the government-wide financial statements. These assets are usually acquired through General, special revenue or capital projects funds.
• D) GASB Statement No. 37 specifically prohibits interest during construction in governments' funds to be capitalized in the government-wide statements.

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Definitions:

Corporate Social Responsibility

involves the practices and policies undertaken by companies to be socially accountable to the public, their stakeholders, and the environment.

Stakeholder Values

The principles, ethics, and beliefs that are important to an organization's stakeholders, influencing their expectations and relationships with the organization.

Community Building

The process of fostering connections, relationships, and a sense of belonging among members of a community to create a supportive and cohesive unit.

Corporate Social Responsibility

A business model in which companies integrate social and environmental concerns in their operations and interactions with stakeholders.