For the following items that require reconciliation between governmental funds financial statements and governmental activities financial statements at the government-wide level according to GASB standards, indicate which is the best appropriate terms.(A) Always be subtracted from fund balances-governmental funds.(B) Always be added to fund balances-governmental funds.(C) May be added to or subtracted from fund balances-governmental funds in arriving at net position of governmental activities.________ 1. Capital assets used in governmental activities________ 2. Long-term liabilities that are not payable in the current period________ 3. Net position of internal service funds that are primarily governmental in nature________ 4. Accrued interest payable not due in the current period
What will be an ideal response?
1. B, 2. A, 3. C, 4. A
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