Which of the following is true about the reconciliation from governmental fund changes in fund balances to governmental activities changes in net position? a. Reconciliation is required to be presented either on the face of the fund financial statement or as a separate statement. b. The reconciliation converts from modified accrual to full accrual. c. Both of the above d. Neither of the above
Which of the following is true about the reconciliation from governmental fund changes in fund balances to governmental activities changes in net position? a. Reconciliation is required to be presented either on the face of the fund financial statement or as a separate statement. b. The reconciliation converts from modified accrual to full accrual. c. Both of the above d. Neither of the above
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following is true about the reconciliation from governmental fund changes in fund balances to governmental activities changes in net position?
a. Reconciliation is required to be presented either on the face of the fund financial statement or as a separate statement.
b. The reconciliation converts from modified accrual to full accrual.
c. Both of the above
d. Neither of the above
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