Which Statement Is False Regarding the Balance Sheet for Fund-Based

question 43

Multiple Choice

Which statement is false regarding the Balance Sheet for Fund-Based Statements?

• A) The Balance Sheet for Fund-Based Statements measures only current financial resources of the governmental entity.
• B) The Balance Sheet for Fund-Based Statements uses the modified accrual method for timing purposes.
• C) Capital assets are not reported on the Balance Sheet for Fund-Based Statements.
• D) The Balance Sheet for Fund-Based Statements measures only long-term financial resources of the governmental entity.
• E) Long-term debts are not reported on the Balance Sheet for Fund-Based Statements.

---

Definitions:

Proteoglycans

Large molecules composed of proteins and glycosaminoglycans that provide structural support in cellular matrices.

Extracellular Matrix

A complex network of proteins and carbohydrates outside the cell that provides structural and biochemical support to surrounding cells.

Amino Sugars

A type of sugar molecule that contains an amino group in place of a hydroxyl group, found in many biopolymers and glycoproteins.

Fibronectin

A high-molecular weight glycoprotein of the extracellular matrix that binds to membrane-spanning receptor proteins called integrins, as well as to components such as collagen and fibrin.