Which of the following is incorrect with respect to the Balance Sheet for Governmental funds?

Multiple Choice

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

b.Governmental funds report capital assets net of depreciation.

c.The excess of assets and deferred outflows over liabilities and deferred inflows is labeled fund balance.

d.The total fund balance must be reconciled to total net position in the governmental activities column of the government-wide statement of Net Position.