In reconciling the total fund balances of the governmental funds to the net position of governmental activities, which of the following would be added to the net position of governmental activities?
A) Accumulated depreciation.
B) Premium on bonds payable.
C) Construction work in progress.
D) Bond interest payable.

Question

Quizplus · Accepted Answer

Construction work in progress is a capital asset that is not reported in the governmental funds but is included in the government-wide financial statements. Therefore, it would be added to the net position of governmental activities in the reconciliation process.

In Reconciling the Total Fund Balances of the Governmental Funds