Which of the following statements is not correct? Question 1 options: The govern

Question

Which of the following statements is not correct?

Question 1 options:

The government-wide statements are separated into governmental activities and business-type activities.

Discretely presented component units are also separately displayed in the fund basis statements, but not the government-wide statements.

The governmental-type funds’ Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balances serve as inputs to the governmental activities sections of the government-wide statements.

The fund-basis statements reflect modified accrual accounting, they must be adjusted to the accrual basis

The government-wide statements are separated into governmental activities and business-type activities.

Discretely presented component units are also separately displayed in the fund basis statements, but not the government-wide statements.

The governmental-type funds’ Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balances serve as inputs to the governmental activities sections of the government-wide statements.

The fund-basis statements reflect modified accrual accounting, they must be adjusted to the accrual basis

Explanation / Answer

Answer)

My answer is option (2) Discretely presented component are separately displayed in fund basis statements,but not the government wide.

The reason is discrete presented component units are needed to be shown seperately in government wide statements.

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