What is the general rule regarding the reporting of special items in fund-level financial statements?
a. They should be displayed separately in the operating statements prepared for governmental and proprietary funds.
b. They should be reported as part of expenditures or expenses in operating statements.
c. They should be displayed as separate items in proprietary fund operating statements, but not in governmental fund operating statements.
d. They should be included as part of revenues in fund operating statements.
Question 2
Just before the close of its fiscal year, a city government issues 2 million of bonds to finance the acquisition of capital assets. However, no part of the debt is repaid by year-end and no part of the debt is used to purchase capital assets.
What adjusting entry is needed to prepare the city's government-wide financial statements from its fund-level financial statements?
a. No adjusting entry is needed
b. Available for capital assets 2,000,000
Bonds payable 2,000,000
c. Net investment in capital assets 2,000,000
Bonds payable 2,000,000
d. Other financing source - proceeds from bond issue 2,000,000
Bonds payable 2,000,000
The general pattern of progression of an untreated HIV infection
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