The Total Fund Balances Presented in Governmental Funds Statements Are

Multiple Choice

The total fund balances presented in Governmental Funds Statements are different from the total net assets on the government-wide Statement of Net assets.Which of the following is not a reason for this difference?

A) The two statements have different bases of accounting
B) Capital assets used in government operations are not financial resources and therefore are not reported in the funds
C) Some liabilities are not due and payable in the current period and are not reported in fund liabilities
D) Receivables in the fund statements are reported on the statement of net assets as deferred revenue