Describe the difference in reporting capital assets and long term debt in the governmental funds financial statements and reporting those elements for governmental activities in government wide financial statements ...

In the fund financial statements governmentaltype funds ...

Describe the difference in reporting capital assets and long- term debt in the governmental funds financial statements

Question:

Describe the difference in reporting capital assets and long- term debt in the governmental funds and reporting those elements for governmental activities in government-wide

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...