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:

New Jersey Supreme Court

The highest court in the U.S. state of New Jersey, responsible for interpreting state laws and constitution.

Illegal Drug Use Pregnancy

The consumption of controlled substances without medical oversight during pregnancy, which can harm the mother and fetus.

South Carolina

A state in the southeastern region of the United States, known for its shoreline of subtropical beaches and marshlike sea islands.

Incarcerated

Confined or imprisoned as a result of a legal process.