The accounting equation for a special revenue fund is : Assets Liabilities = Net Position. Financial
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Question:
The accounting equation for a special revenue fund is :
Assets – Liabilities = Net Position.
Financial Assets + Deferred Outflows – Related Liabilities – Deferred Inflows = Fund Balance.
General Capital Assets – Unmatured General Long-Term Liabilities = Net Assets.
Current Assets = Current Liabilities.
Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
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