When Converting from Governmental Fund Financial Statements to the Governmental

question 114

True/False

When converting from governmental fund financial statements to the governmental activities column of the government-wide statements, the proceeds from the sale of capital assets which were listed as an "other financing source" are eliminated and the gain or loss is recorded when preparing the government-wide statements.

---

Definitions:

Athena Parthenos

A massive chryselephantine sculpture of the goddess Athena, once housed in the Parthenon in Athens, symbolizing peace and power.

Gold and Ivory

Materials highly valued in ancient and medieval art for their beauty and rarity, often used in religious and ceremonial objects to signify importance and divine status.

Dying Gaul

An ancient Roman marble sculpture representing a wounded Gallic warrior, celebrated for its realism and emotional depth.

Statue Subject

The main focus or theme represented by a statue, such as a historical figure, mythological character, or abstract concept.