Question
Here is information on the results of operations of a local government for the current year: Change in fund balances, governmental funds $5,000,000 Increase in
Here is information on the results of operations of a local government for the current year:
Change in fund balances, governmental funds | $5,000,000 |
Increase in internal service net position | 100,000 |
Payments of principal on general long-term debt | 1,200,000 |
Proceeds from issuing general long-term debt | 3,000,000 |
Outlays for general capital assets | 2,500,000 |
Depreciation expense on general capital assets | 400,000 |
The change in net position of governmental activities, reported on the government-wide statement of activities, is:
A. | $5,200,000 | |
B. | $9,000,000 | |
C. | $5,400,000 | |
D. | $3,000,000 |
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