When Converting from Fund Basis Reporting to Government-Wide Reporting,which of the Following

question 12

Multiple Choice

When converting from fund basis reporting to government-wide reporting,which of the following would require an adjustment?

• A) Property taxes expected to be collected 90 days after the end of the fiscal year.
• B) A state grant received as reimbursement for a summer jobs program.
• C) Sales tax collected for sales from the current year.
• D) Receipt of advance funding on a grant.

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Definitions:

Sequence

An ordered series or arrangement of items, events, or ideas, one following the other in a specific logical or set pattern.

Relationships

The ways in which two or more people or entities are connected and interact with each other.

Bias

A prejudice in favor of or against one thing, person, or group compared with another, usually in a way considered to be unfair.

Internet

A vast network that connects computers all over the world, allowing users to share information and communicate with each other.