How Do the Balance Sheet and Statement of Revenues, Expenditures

question 67

Multiple Choice

How do the balance sheet and statement of revenues, expenditures, and changes in fund balances of governmental funds differ from the financial statement presentation for the governmental activities in the government-wide statement of net assets and statement of activities?(1) Internal service funds are not included in the fund financial statements of governmental funds but could be reported in the governmental activities of government-wide financial statements.(2) The economic resources measurement basis is used for fund financial statements of governmental funds and the current financial resources measurement basis is used for governmental activities in the government-wide financial statements.(3) Modified accrual accounting is used for fund financial statements of governmental funds to time revenues and expenditures and accrual accounting is used for governmental activities of government-wide financial statements.(4) The financial statements of governmental funds for fund financial statements are the same as governmental activities in government-wide financial statements but with different titles of the financial statements.

• A) 1 and 2.
• B) 2, 3, and 4.
• C) 1, 2, and 3.
• D) 1 and 3.
• E) 1, 2, 3, and 4.

---

Definitions:

Integrated Marketing Communications

A strategic approach to marketing that combines various communication tools and channels to provide a comprehensive message about a product or brand.

Impressions

A measurement used in digital marketing to count the number of times an advertisement or content is displayed, regardless of whether it was clicked or not.

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the return by the cost of the investment.

Advertising Value Equivalency

Advertising Value Equivalency (AVE) is a metric used in public relations to measure the benefit to a client from media coverage by comparing it to the equivalent cost if the space or time were bought as advertising.