Which of the following liabilities would NOT be found in the general fund balance sheet of the City of Marmaduke?
A) Accounts payable.
B) Due to special revenue fund.
C) Deferred revenue.
D) Bonds payable, due in 5 years.

Question

Which of the following liabilities would NOT be found in the general fund balance sheet of the City of Marmaduke? 
A) Accounts payable.
B) Due to special revenue fund.
C) Deferred revenue.
D) Bonds payable, due in 5 years.

Quizplus · Accepted Answer

Bonds payable, due in 5 years, would not be found in the general fund balance sheet because long-term liabilities, such as bonds payable that are due beyond one year, are not reported in the general fund but rather in the government-wide financial statements.

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