Which statement is false regarding the government-wide Statement of Net Position?
A. Discretely presented component units are grouped and shown on the right of the total.
B. Investments are reported at fair value rather than historical cost.
C. Assets are reported excluding capital assets.
D. Capital assets are reported net of depreciation.
E. Noncurrent liabilities are presented separately from current liabilities.
Answer: C
You might also like to view...
Rights theory is known as a teleological ethical theory.
Answer the following statement true (T) or false (F)
The easiest measure of marketing public relations effectiveness is ________
A) the resultant effect on the company's sales figures B) the effect it has on its market capitalization C) the number of exposures carried by the media D) the changes observed in consumers' brand knowledge E) the impact it has on the company's market share
GAAP allows the use of either the direct or indirect method but prefers the direct method. Companies who use the indirect method must also include a separate schedule reconciling net income to net cash flow provided by operating activities
Indicate whether the statement is true or false
A(n) ________ in supply uncertainty can help ________ safety inventory required without hurting product availability
A) reduction, increase B) increase, reduce C) reduction, reduce D) reduction, cancel