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 must be prepared in a classified format; that is, both assets and liabilities must be separated between current and long-term categories.
C. The government-wide Statement of Net Position reflects capital assets, net of accumulated depreciation, for both governmental and business-type activities.
D. The government-wide Statement of Net Position includes all resources entrusted to the government; including governmental, proprietary, and fiduciary.
Answer: C
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