The total fund balances presented in Governmental Funds Statements are different from the total Net Position on the

government$-$wide Statement of Net Position. Which of the following is not a reason for this difference?

Multiple Choice

Accrued Wages Payable at year end are reported on the statement of Net Position but are not

reported in the fund statements

Some liabilities are not due and payable in the current period and are not reported in fund liabilities

The two statements have different bases of accounting

Capital assets used in government operations are not current financial resources and therefore are

not reported in the funds