Which of the following is correct with respect to the governmental fund Statement of Revenues, Expenditures and Changes in Fund Balance?

Multiple Choice

• Reconciliation of the change in net position to the balance sheet is recommended but not required.

• The statement is prepared using the current financial resources measurement focus and the accrual basis of accounting.

• Revenues are reported by source, and expenditures are reported by character such as current, debt service and capital outlay.

• Other financing sources are reported with revenues and other financing uses are reported with expenditures.