Accumulated depreciation is not reported on which of the following financial statements?

Question

Quizplus · Accepted Answer

Accumulated depreciation is not reported on the General Fund balance sheet because the General Fund accounts for the operations of a government's primary activities, which are typically financed through taxes and intergovernmental revenues. Depreciation is not a significant factor in the General Fund's financial statements. It is, however, reported on the government-wide statement of net position, enterprise fund statement of net position, and private-purpose trust fund statement of fiduciary fund net position.

Accumulated Depreciation Is Not Reported on Which of the Following