For the Following Items That Require Reconciliation Between Governmental Funds

Essay

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