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Explain why some transactions for governmental activities at the government-wide level are reported differently than thransactions...

Explain why some transactions for governmental activities at the government-wide level are reported differently than thransactions for the general fund. Give some examples of transactions that would be recorded in the jornals of (a) only the general fund, (b) only governmental activities ate the government-wide level.

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Certain activities (e.g., those relating to the general fund budget) have no effect on the government - wide financial statements. Most opening Activities or transactions affect both the general fund and governmental activities at the government - wide level, but in different ways. still other activities, such as recording Depreciation expense or accruing interest on general long term debt, affect only the government - wide financial statements and are not recorded at all in the general fund or in any other government fund.

ekkarill92 answered 2 years ago
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