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.

Determine sales variances, including sales price and sales volume variances.

Understand the computation and significance of absorption rates in standard costing.

Analyze production efficiency through direct labor hour variances.

Interpret sales mix and sales quantity variances for decision-making.

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Definitions:

Mucous Membranes

Wet, protective linings of body cavities and passages that are exposed to the external environment, such as the nose, mouth, and lungs.

Caput Succedaneum

Swelling of a newborn's scalp that appears as a lump or bump on their head as a result of pressure during birth.

Vertex Delivery

A type of childbirth where the baby's head is the first part to emerge from the birth canal.

Cephalhematoma

A hematoma between the skull and the periosteum in newborns, usually as a result of birth trauma.