The total fund balances presented in Governmental Funds Statements are different from the total Net Position on the government-wide Statement of Net Position. Which of the following is not a reason for this difference?
A. Capital assets used in government operations are not financial resources and therefore are not reported in the funds
B. Some liabilities are not due and payable in the current period and are not reported in fund liabilities
C. Accrued Wages Payable at year end are reported on the statement of Net Position but are not reported in the fund statements
D. The two statements have different bases of accounting
Answer: C
You might also like to view...
Free alongside ship (FAS) named port is the Incoterm for a transaction in which the seller places the shipment alongside the vessel upon which the goods will be transported out of the country
Indicate whether the statement is true or false
The book gives an example of the Clif Bar organization having the expectation that employees will adopt an eco-friendly and healthy lifestyle. The expectation is reflected in business practices and is resistant to change. This is an example of a(n) ______.
a. artifact b. value c. assumption d. contextual element
Answer the following statements true (T) or false (F)
1. Nonverbal information can be a problem in an interview because interviews are generally short and intensive. 2. The most pervasive communication barrier during an interview results from hierarchical rank. 3. Time and place don’t have an impact on the success of an interview. 4. Managers should check to be sure that the interviewee agrees with the interview’s purpose rather than assuming agreement.
An exclusive license is defined as ________
A) a license that grants access to exclusive information for a limited period B) a license that restricts the licensee to some information only C) a license that grants rights to only one party for a specific period D) a license that grants licensees only a few rights in intellectual property