Which of the following is true regarding the government-wide Statement of Net Assets?
A) Discretely presented component units are included in a separate column (or columns).
B) Net assets are broken down into three categories: invested in capital assets, reserved, and unreserved.
C) Both of the above.
D) Neither of the above.

Question

Quizplus · Accepted Answer

Discretely presented component units are included in a separate column in the government-wide Statement of Net Assets. However, net assets are categorized as invested in capital assets, restricted, and unrestricted, not reserved and unreserved.

Which of the Following Is True Regarding the Government-Wide Statement