Which categories are included in the government-wide Statement of Net Position?

The government-wide Statement of Net Position includes categories that reflect the overall financial condition of a government at a specific point in time. The correct answer, which identifies the categories of net position, encompasses Restricted, Committed, and Assigned.

Restricted net position refers to resources that are subject to external restrictions imposed by creditors, grantors, or laws. This could include funds that are designated for specific purposes, such as highways or education. Committed net position includes constraints imposed by formal actions of the government’s highest decision-making authority, such as city councils or boards. These are distinct commitments that are not as easily altered as an assignment. Assigned net position reflects resources that are intended for a specific use, as determined by the government’s management or governing body.

The correct choice highlights the distinction in how different types of net position are categorized and the significance of these designations in understanding a government’s financial standing. The other choices, while featuring relevant terms from governmental accounting, do not appropriately represent the categories used in the government-wide Statement of Net Position.