General Fund resources were expended in the amount of $180,000 to purchase a new fire truck.The General Fund would debit:

Name: General Fund resources were expended in the amount of $180,000 to purchase a new fire truck.The General Fund would debit:
Brand: Quizplus
Rating: 4.8 (53 reviews)

Question

Quizplus · Accepted Answer

In governmental accounting, the General Fund records expenditures when resources are expended. Therefore, the purchase of a fire truck would be recorded as a debit to Expenditures Control. Capital assets are not recorded in the General Fund.

General Fund Resources Were Expended in the Amount of $180,000