Government-wide financial statements make a distinction between program revenues and general revenues. How is that difference shown? Program revenues are offset against the expenses of a specific function; general revenues are assigned to governmental activities and business-type activities in general. General revenues are shown at the top of the statement of revenues and expenditures; program revenues are shown at the bottom. General revenues are labeled as operating revenues; program revenues are shown as miscellaneous income. General revenues are broken down by type; program revenues are reported as a single figure for the government.
Government-wide financial statements make a distinction between program revenues and general revenues. How is that difference shown? Program revenues are offset against the expenses of a specific function; general revenues are assigned to governmental activities and business-type activities in general. General revenues are shown at the top of the statement of revenues and expenditures; program revenues are shown at the bottom. General revenues are labeled as operating revenues; program revenues are shown as miscellaneous income. General revenues are broken down by type; program revenues are reported as a single figure for the government.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Government-wide financial statements make a distinction between program revenues and general revenues. How is that difference shown?
- Program revenues are offset against the expenses of a specific function; general revenues are assigned to governmental activities and business-type activities in general.
- General revenues are shown at the top of the statement of revenues and expenditures; program revenues are shown at the bottom.
- General revenues are labeled as operating revenues; program revenues are shown as miscellaneous income.
- General revenues are broken down by type; program revenues are reported as a single figure for the government.
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