The governmental funds operating statement presents all of the following except
A)Expenditures.
B)Other financing sources.
C)Revenues.
D)Expenses.

Question

Quizplus · Accepted Answer

The governmental funds operating statement typically presents expenditures, revenues, and other financing sources, but not expenses. This is because the term "expenses" is associated with the accrual basis of accounting, while governmental funds report on a modified accrual basis of accounting, where expenditures are reported instead.

The Governmental Funds Operating Statement Presents All of the Following