When preparing government-wide statements, which of the following is not true?

Multiple Choice

• Entries are necessary to adjust revenues to the accrual basis, record expenses not recognized under the modified accrual basis.

• Entries are necessary to eliminate fiduciary funds.

• General capital assets, general long-term debt, and internal service funds are added through worksheet journal entries.

• Worksheet entries eliminate elements of the modified accrual basis fund statements that do not conform to accrual accounting, such as expenditures for capital assets and principal repayments.