Which Item Is Not Included on the Government-Wide Statement of Activities

question 35

Multiple Choice

Which item is not included on the government-wide Statement of Activities?

• A) Revenues.
• B) Expenses.
• C) Assets.
• D) Operating grants.
• E) Capital contributions.

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Definitions:

Trustee In Bankruptcy

The licensed professional appointed to administer the estate of a bankrupt for the benefit of the creditors.

Guarantee

A formal assurance or promise that certain conditions will be fulfilled, including products meeting specific standards or services being satisfactorily rendered.

Repossess

The act of taking back property by a seller or lender from the buyer or borrower, usually due to failure in payment.

Security Registered

Refers to financial securities that are registered with regulatory bodies and recorded in the named investor's name.