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Which of the following is correct with respect to the governmental fund Statement of Revenues,...

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Question

Accounting

Which of the following is correct with respect to the governmental fund Statement of Revenues, Expenditures and Changes in Fund Balance?

Multiple Choice

  • Reconciliation of the change in net position to the balance sheet is recommended but not required.

  • The statement is prepared using the current financial resources measurement focus and the accrual basis of accounting.

  • Revenues are reported by source, and expenditures are reported by character such as current, debt service and capital outlay.

  • Other financing sources are reported with revenues and other financing uses are reported with expenditures.

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