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Preparation of government-wide financial statements requires elimination of:__________
A. Receivables from fiduciary funds from the statement of net position.
B. Internal balances from the total primary government column in the statement of net position.
C. The effects on the statement of activities of interfund services provided and used between functions.
D. Net residual amounts due between governmental and business-type activities from those columns in the statement of net position.

Respuesta :

luisvaschetto

Preparation of government-wide financial statements requires the elimination of the internal balances from the primary government column in the statement of net position (Option B).

What are internal balances?

In economy, the expression 'internal balances' makes reference to  a condition in which an institution (or in this case state government) sustains stable measurement for employment and prices.

These internal balances allow the state/country to maintain a suitable net position for its financial statement (between receivables and payables).

In conclusion, the preparation of government-wide financial statements requires the elimination of the internal balances from the total primary government column in the statement of net position.

Learn more about internal balances here:

https://brainly.com/question/13278288

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