A Government Business Enterprise's Net Income or Loss Is Reported

question 49

Multiple Choice

A government business enterprise's net income or loss is reported on the government's statement of operations. In addition, ________.

• A)the accounting principles are not adjusted to government accounting principles.
• B)the investment should be reported using the cost method.
• C)the investment account should not be adjusted for the net income or loss.
• D)its assets and liabilities are added to the government's statement of financial position.

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