Item $5$

Time Remaining $2$ hours $26$ seconds

$02$:$00$:$26$

Item $5$

Time Remaining $2$ hours $26$ seconds

$02$:$00$:$26$

Which of the following is true regarding the government$-$wide Statement of Activities?

Multiple Choice

Program revenues include charges for services, operating grants and contracts, capital grants and contracts, and taxes levied for specific purposes.

The accrual basis of accounting is used to calculate revenues and expenses.

Both of the choices are true.