Author Question: What is the general rule for reporting capital assets in the governmental activities column of the ... (Read 110 times)

biggirl4568 · **on:** Jul 5, 2018

What is the general rule for reporting capital assets in the governmental activities column of the government-wide statement of net position?

a. Capital assets are not reported in that column
b. Both proprietary fund and general capital assets are reported in that column
c. All general capital assets should be reported in that column
d. All general capital assets, except infrastructure assets, should be reported in that column.

Question 2

The third pair of columns on a 10-column work sheet prepared at the end of the period would be the
a. Income Statement columns.
b. Adjustments columns.
c. Balance Sheet columns.
d. Adjusted Trial Balance columns.