Derived & Reconciliation Financials Flashcards
1
Q
The three internal service funds of a town were presented in a single column in the basic financial statements. Combining the internal service funds in this way simplified
A
the conversion of the fund-based information to the government-wide financial statement format
2
Q
City’s reconciliation of the statement of revenues, expenditures, and changes in fund balances to the government-wide statement of activities, which of the following items should be subtracted from changes in fund balances?
A
Book value of capital assets sold during the year
