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:

Algebraic Expression

A statement of the mathematical operations to be carried out on a combination of numbers and variables.

Monomial

An expression containing only one term.

Binomial

An expression containing two terms.

Like Terms

Terms having the same literal coefficient.