Converting the Governmental Fund Balance Sheet to a Government-Wide Statement

question 3

Multiple Choice

Converting the governmental fund balance sheet to a government-wide statement of net assets requires which of the following activities? ?
?
1) Add general fixed assets, net of accumulated depreciation
2) Add general long-term debt, using the effective interest method
3) Eliminate the assets and liabilities of most internal service funds (those whose primary customer is the general government)
4) Eliminate the fund balance and classify the net assets into invested in capital assets, restricted net assets, and unrestricted net assets

• A)1, 2, 3, 4
• B)1, 3
• C)1, 2, 4
• D)3, 4

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Definitions:

Inhalation

The act of breathing in; the intake of air or other substances into the lungs.

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An abnormal growth in the sphenoid sinus, a cavity within the skull behind the nasal passages.

Correct Code

The accurate numerical or alphanumerical representation used to identify specific medical diagnoses, procedures, or services in healthcare documentation and billing.

Breathing

The physiological process of inhaling oxygen and exhaling carbon dioxide from the atmosphere.