Respuesta :
Which of the following statements is true regarding the government-wide net worth? The government-wide statement of equity reflects fixed assets, net of accumulated amortization, for government and commercial-type activities.
Investment trust funds are used to report fiduciary activities for the external part of investment pools and individual investment accounts that are held in a trust that meets certain criteria
The financial statements required for a trust fund are the Statement of Net Fiduciary Position and the Statement of Changes in Net Fiduciary Position. The classification of trust funds includes the following funds: Agency funds.
Trust funds (such as pension trusts and agency funds) are not included in government-wide reporting because the resources they represent do not belong to the government. Government and commercial activities combine to represent the whole of primary government.
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