General Fixed Assets of the Government Are Reported Both in the Government-Wide

question 7

True/False

General fixed assets of the government are reported both in the government-wide financial statements and the governmental fund financial statements.

---

Definitions:

NAFTA

The North American Free Trade Agreement, an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.

Trade Barriers

Restrictions imposed by a government on international trade, often to protect domestic industries from foreign competition.

Foreign Sovereign Immunities Act

U.S. legislation that sets the limitations as to whether a foreign sovereign nation (and its political subdivisions, agencies, or instrumentalities) may be sued in U.S. courts.

U.S. Citizens

Individuals who are legally recognized as members of the United States, either by birth or naturalization, with specific rights and obligations.