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

question 38

Multiple Choice

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

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

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Definitions:

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