Which of the following account captions are you least likely to see on a governmental funds balance sheet?
A)Due from other governments
B)Property,plant and equipment
C)Advance deposits
D)Due to other funds

Question

Quizplus · Accepted Answer

Property, plant, and equipment are capital assets, which are typically accounted for on a government's government-wide financial statements, rather than on its fund level balance sheets. The other account captions listed (due from other governments, advance deposits, due to other funds) are all commonly found on governmental funds balance sheets.

Which of the Following Account Captions Are You Least Likely