Each of the following transactions would decrease fund balance in the General Fund except

Question

Quizplus · Accepted Answer

Depreciation is an accounting entry and does not involve the outflow of cash or decrease in fund balance in governmental accounting, especially in the General Fund. Purchases of capital assets, principal repayments of long-term debt, and salaries and wages involve actual expenditures that would decrease the fund balance.

Each of the Following Transactions Would Decrease Fund Balance in the General