Which of the Following Items Would Likely Appear in the Reconciliation

question 74

Multiple Choice

Which of the following items would likely appear in the reconciliation between the governmental fund financial statements and the governmental activities column in the government-wide financial statements?

• A) The inclusion of long-term liabilities in the government-wide financial statements and not in the governmental fund financial statements.
• B) The inclusion of depreciation of capital assets in the governmental activities column of the government-wide financial statements and not in the governmental fund statements.
• C) The additional accrual of some revenues and expenses in the government-wide financial statements that were not made in the governmental fund financial statements.
• D) All of the above.

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Definitions:

Company Assets

Resources owned by a company that have economic value and can be used to meet debts, commitments, or investments.

Personal Gain

The benefit or advantage acquired by an individual from a particular scenario or transaction, often financial in nature.

Internal Control

A process designed to ensure the reliability of financial reporting, effectiveness of operations, and compliance with laws and regulations.

Ethics

Moral principles that govern a person's behavior or the conducting of an activity.