Which Statement Is False Regarding the Statement of Revenues, Expenditures

question 34

Multiple Choice

Which statement is false regarding the Statement of Revenues, Expenditures, and Changes in Fund Balance when it is included with government-wide financial statements?

• A) The Statement of Revenues, Expenditures, and Changes in Fund Balance uses the modified accrual method for timing purposes.
• B) The Statement of Revenues, Expenditures, and Changes in Fund Balance presents revenues as either program revenues or general revenues.
• C) A presentation reconciles the change in governmental fund balance to the change in net assets for governmental activities.
• D) Other financing sources are presented on the Statement of Revenues, Expenditures, and Changes in Fund Balance.
• E) All non-major funds are combined and reported together.

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Definitions:

Collective Mark

A trademark or service mark used by members of a cooperative, association, or other group to indicate membership.

Trademark Renewed

The process of extending the legal protection of a trademark beyond its initial registration period to maintain exclusive rights to the mark.

Initial Renewal

A process where an official agreement or registration is extended beyond its original end date.

Every Ten Years

A phrase indicating a recurring period or event that takes place once every decade.