Question

How should the difference between assets, deferred outflows, deferred inflows, and liabilities be characterized in the government-wide statement of net position? Select one: A. As available for spending B. As fund equity C. As fund balances D. As net position

Answer 1

Answer:

D. As net position

Explanation:

Based on the information provided within the question it can be said that these should be characterized as net position. This term refers to the absolute value of all the long and short positions of the person borrowing the money including the difference of all the terms mentioned in the question. Such as assets, deferred outflows, deferred inflows, and liabilities.