In the government-wide statement of net position, interfund ...

[segrsyd]

In the government-wide statement of net position, interfund receivables and payables
 
  A. Should not be reported.
  B. Should only be reported for balances payable between governmental activities and business-type activities.
  C. Can be reported in either the governmental activities or business-type activities columns.
  D. Should be eliminated in the governmental activities column but not the business-type activities column.

Question 2

The Financial Accounting Standards Board (FASB) is the authoritative body that has primary responsibility fordeveloping accounting principles.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[pallen55]

Answer to Question 1

B

Answer to Question 2

True

[segrsyd]

TYSM

[bbburns21]

Excellent