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All of the following are elements of the statement of financial condition for state and local governments with the exception of:
A) Assets and Liabilities
B) Deferred inflow and outflow of resources
C) Net position
D) Inflow and outflow of resources
Answer: D

Sagot :

The right answer is D. Excluding inflow and outflow of resources, the following constitute the statement of financial situation for the state and local governments.

What do local governments consist of?

Local governments in some regions handle a number of crucial services for citizens and businesses. In addition to less well-known services like pest control, customer services, licensing, and registrar services, there are known ones like social services, teaching, housing, planning, and garbage collection among them.

What role does local government play primarily?

In general, municipalities are in charge of public works, fire and police, housing services, medical services, municipal courts, parks and recreation services, and emergency medical services.

To know more about local governments visit:

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