The term "current financial resources" refers to
A) Those assets that can quickly be converted into cash.
B) Monetary assets that are available to meet the government's needs.
C) The government's current assets and current liabilities.
D) The current value of all net assets owned by the governmental unit.
E) Financial resources used to provide electricity to local citizens.

Question

Quizplus · Accepted Answer

The term "current financial resources" in governmental accounting refers to monetary assets that are available to meet the government's short-term needs, typically within a fiscal year.

The Term "Current Financial Resources" Refers to