Which of the following actions is not required to convert data from the governmental fund financial statements to enable preparation of the government-wide financial statements?
A) Adding annual depreciation expense proportionately to functional expense categories.
B) Eliminating interfund payables and receivables between governmental funds.
C) Aggregating fund information.
D) Eliminating receivables and payables between governmental and enterprise funds.

Question

Quizplus · Accepted Answer

Eliminating receivables and payables between governmental and enterprise funds is not required to convert data from the governmental fund financial statements to enable preparation of the government-wide financial statements. The other options (A, B, and C) are necessary steps in converting data for government-wide financial statements.

Which of the Following Actions Is Not Required to Convert