Which of the Following Is True Regarding the Government-Wide Statement

question 105

Multiple Choice

Which of the following is true regarding the government-wide Statement of Net Position?

• A) A reporting entity primary government plus component units total column is required.
• B) The government-wide Statement of Net Position reflects capital assets, net of accumulated depreciation, for both governmental and business-type activities.
• C) The government-wide Statement of Net Position must be prepared in a classified format; that is, both assets and liabilities must be separated between current and long-term categories.
• D) The government-wide Statement of Net Position includes all resources entrusted to the government; including governmental, proprietary, and fiduciary.

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