For the following items that require reconciliation between governmental funds financial statements and governmental activities financial statements at the government-wide level according to GASB standards, indicate which is the best appropriate terms.
(A) Always be subtracted from fund balances-governmental funds.
(B) Always be added to fund balances-governmental funds.
(C) May be added to or subtracted from fund balances-governmental funds in arriving at net position of governmental activities.
________ 1. Capital assets used in governmental activities
________ 2. Long-term liabilities that are not payable in the current period
________ 3. Net position of internal service funds that are primarily governmental in nature
________ 4. Accrued interest payable not due in the current period

Question

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The Answer of For the following items that require reconciliation between governmental funds financial statements and governmental activities financial statements at the government-wide level according to GASB standards, indicate which is the best appropriate terms.
(A) Always be subtracted from fund balances-governmental funds.
(B) Always be added to fund balances-governmental funds.
(C) May be added to or subtracted from fund balances-governmental funds in arriving at net position of governmental activities.
________ 1. Capital assets used in governmental activities
________ 2. Long-term liabilities that are not payable in the current period
________ 3. Net position of internal service funds that are primarily governmental in nature
________ 4. Accrued interest payable not due in the current period

For the Following Items That Require Reconciliation Between Governmental Funds