The measurement focus of the fund-based financial statements of a governmental fund is on the determination of (select one):

Economic Resources Financial Position Changes in Financial Position

A. Yes Yes Yes

B. No Yes No

C. No Yes Yes

D. Yes No Yes

Question

Business

Jazlene Fry

25 December, 05:44

The measurement focus of the fund-based financial statements of a governmental fund is on the determination of (select one):

Economic Resources Financial Position Changes in Financial Position

A. Yes Yes Yes

B. No Yes No

C. No Yes Yes

D. Yes No Yes

+1

Answers (1)

Know the Answer?

Tanya Ball · Answer 1

C) No Yes Yes

Explanation:

The focus of the measurement of a governmental fund is in current assets and current liabilities. In other words, a governmental fund balance sheet is composed of assets and liabilities that can be converted into cash in the short-run.

For this reason, financial position, represented by cash, and future-cash, and changes in financial position, represented by current assets or liabilities that have become cash from one accounting period to the other, are the most important aspects of the balance sheet, while a more objective, or thorough analysis of economic resources is not.

The measurement focus of the fund-based financial statements of a governmental fund is on the determination of (select one):Economic Resources Financial Position Changes in Financial PositionA. Yes Yes YesB. No Yes NoC. No Yes YesD. Yes No Yes

The measurement focus of the fund-based financial statements of a governmental fund is on the determination of (select one):

Economic Resources Financial Position Changes in Financial Position

A. Yes Yes Yes

B. No Yes No

C. No Yes Yes

D. Yes No Yes