Which of the Following Statements Is False

Multiple Choice

Which of the following statements is false?

A) Deferred Inflows of Resources have a credit balance but they do not represent obligations of the reporting entity
B) Deferred Outflows of Resources have a debit balance but are not assets of the reporting organization.
C) Fund Balance is analogous to the capital of an investor-owned entity.
D) Only items specifically identified in GASB standards may be reported as deferred inflows or deferred outflows.