Which Statement Is False Regarding the Statement of Revenues, Expenditures

question 29

Multiple Choice

Which statement is false regarding the Statement of Revenues, Expenditures, and Other Changes in Fund Balance when it is included with government-wide financial statements?

• A) The Statement of Revenues, Expenditures, and Other Changes in Fund Balance uses the modified accrual method of accounting.
• B) The Statement of Revenues, Expenditures, and Changes in Fund Balance presents revenues as either program revenues or general revenues.
• C) A presentation reconciles the change in governmental fund balance to the change in net position for governmental activities.
• D) Other financing sources are presented on the Statement of Revenues, Expenditures, and Other Changes in Fund Balance.
• E) All non-major funds are combined and reported together.

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Definitions:

Chief Negotiator

The principal or lead person responsible for conducting negotiations on behalf of an organization or government.

Just Unionized

Recently formed or recognized as a labor union, often aimed at negotiating better wages, benefits, and working conditions for employees.

WARN Act

The Worker Adjustment and Retraining Notification Act, a U.S. labor law that requires employers to provide notice 60 days in advance of covered plant closings and mass layoffs.

Advance Notice

A prior notification about an event, requirement, or action that allows for preparation or adjustments.