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

Question

Quizplus · Accepted Answer

Bonds payable, due in 5 years, are long-term liabilities and, therefore, would not be found in the fund balance sheet of the General Fund, which reports only current assets and liabilities. The other choices, accounts payable, due to Special Revenue Fund, and deferred revenue, are all current liabilities and could be found in the fund balance sheet.

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