Which of the following assets would NOT be found in the fund balance sheet of the General Fund of the City of Harrison?

Question

Quizplus · Accepted Answer

Capital assets would not be found in the fund balance sheet of the General Fund of the City of Harrison since it only reports current assets (such as cash and receivables) and liabilities. Capital assets are long-term assets and are instead reported on the government-wide financial statements. The other options (A, C, and D) are all potential current assets that could be found in the General Fund's balance sheet.

Which of the Following Assets Would NOT Be Found in the Fund