Which of the following are shown on the asset side of a governmental fund balance sheet?

I. Accounts receivables

II. Deferred inflow of resources

III. Deferred outflow of resources

IV. Accounts payable

a-I and II only

b-II and III only

c-III and IV only

d-I and III only

2-

Identify the statement that is not an objective of government accounting.

a-Provide guidelines for recording financial transactions of privately owned unit

b-Reporting results from operations of a government agency

c-Presentation of financial information concerning present conditions of a state owned unit

d-Presentation of financial information concerning past operations of a public body