The unrestricted net position balance for a local government

Question

Quizplus · Accepted Answer

The unrestricted net position balance for a local government can be negative, which indicates that the government has incurred more liabilities than assets. It is not limited or governed by the fund balances of the major governmental funds, and therefore, it cannot be determined by adding those balances. It may or may not be the largest component of the total net position balance, depending on the government's financial situation.

The Unrestricted Net Position Balance for a Local Government