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Which of the following statements is not a required part of thebasic financial statements of Carlton City? Question 25 options:Government-wide statement of net position. Statement of revenues,expenditures, and changes in fund balances for all governmentalfunds. Statement of revenues, expenses, and changes in net assetsfor all fiduciary funds. Statement of cash flows for allproprietary funds.

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Sixta Kovacek
Sixta KovacekLv2
28 Sep 2019
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Related questions

1-The fund financial statements for governmental funds shouldinclude a

A: Balance sheet for fiduciary funds B: Statement of revenues,expenditures, and changes in fund balances. C: tatement of cashflows. D; All of the above

2- Which of the following terms refers to an actual cost ratherthan an estimate?

A; Budget, B: Encumbrance, C: Expenditure, D : Appropriation

3- Equity in a special Revenue fund is known as ?

A: Restricted net assets, B; Fund balance. C: Invested incapital assets, D: Net postion

4- The government fund of a state or local government shouldreport interfund transfers as?

A: Other financing sources or uses, B: Items appearing afternonoperating revenues and expenses in the operating statement, C:Revenue or expenditures, D: Appropriation or liabilities

5- Under which basis of accounting is it appropriate torecognize expenses that expenditures?

A: cash, B: Modified cash, C : accrual, D: modified accrual

1. In a county’s 2018 CAFR, general government expenses on the government-wide statement of activities are $435 million and general government expenditures on the governmental funds statement of revenues, expenditures, and changes in fund balances are $385 million. What is a possible reason why expenditures are lower than expenses?

A. Accrued OPEB earned by governmental fund employees in 2018

B. Capital assets purchased by governmental funds in 2018

C. Salaries paid to governmental fund employees in 2018

D. Maintenance costs incurred by governmental funds in 2018

Governmental Accounting.

1) Explain why property tax revenues may be different on the Governmental fund type statement of revenues, expenditures, and changes in Fund balance compared to the Government- wide statement of activities. Please add some specificity to your answer.

2) Give one specific example of a worksheet entry as Governmental fund type financial statement information is converted or adjusted to Government-wide Governmental activities financial statment information in regard to capital assets. Please do not answer this question by giving a journal entry.

3) What are some of the key differences between the proprietary statement of cash flows and the FASB for-profit statement of Cash flows( Four differences)

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