Explain why General Capital Assets and General Long-Term Liabilities are accounted for separately from the governmental funds.

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Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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Question Posted: Oct 25, 2014 04:58 AM

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Explain why General Capital Assets and General Long-Term Liabilities are accounted for separately from the governmental funds.

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General capital assets do not represent financial resources available fo...View the full answer

Governmental and Nonprofit Accounting

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