When converting the multiple governmental funds to the single entity represented by the governmental activities in the government wide financial statements, which of the following adjustments will not be necessary Converting the cash account to reflect the different basis of accounting Adjusting for capital assets Adjusting for long term liabilities Converting fund balance to net position

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Question: When converting the multiple governmental funds to the single entity represented by the governmental activities in the government-wide financial statements, which of the following adjustments

When converting the multiple governmental funds to the single entity represented by the governmental activities in the government-wide financial statements, which of the following adjustments will not be necessary?

Converting the cash account to reflect the different basis of accounting.
Adjusting for capital assets.
Adjusting for long-term liabilities.
Converting fund balance to net position.

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