The amount of sick leave liability that should appear on the general fund balance sheet at 6/30/15 is
A)$1.2 million.
B)$0.4 million.
C)$0.2 million.
D)No liability should appear.

Question

Quizplus · Accepted Answer

In governmental accounting, sick leave is typically not recognized as a liability in the general fund balance sheet unless it is due and payable. Since sick leave is often contingent on future events, it is not usually recorded as a liability.

The Amount of Sick Leave Liability That Should Appear on the General