A governmental entity's voluntarily maintained general capital assets account group includes plant assets used by all except the entity's:

Question

Quizplus · Accepted Answer

DGeneral capital assets are those used in the entity's operations and are not financial resources but physical assets. Pension trust funds and agency funds do not directly use physical assets in their operations. Pension trust funds are fiduciary in nature, managing retirement assets for employees, and agency funds act as custodians for assets held for others; neither would utilize general capital assets like buildings or equipment in the same way that operational funds (such as the General Fund or Special Revenue Funds) would.

A Governmental Entity's Voluntarily Maintained General Capital Assets Account Group