The fund balance category used to reflect a positive residual of assets less liabilities in any fund

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The fund balance category used to reflect a positive residual of assets less liabilities in any fund other than the General Fund is

a. assigned fund balance.

b. committed fund balance.

c. nonspendable fund balance.

d. restricted fund balance.

e. unassigned fund balance.

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Governmental And Nonprofit Accounting Theory And Practice

ISBN: 9780132552721

9th Edition

Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,

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Question Posted: Feb 24, 2024 05:00 AM

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The fund balance category used to reflect a positive residual of assets less liabilities in any fund

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The correct answer is d restricted fund balance Explanation In governmental accounting fund balance categories are used to classify the residual of as...View the full answer

Governmental And Nonprofit Accounting Theory And Practice

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