Why are a municipalitys general capital assets and general long-term liabilities accounted for through nonfund accounts rather

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Why are a municipality’s general capital assets and general long-term liabilities accounted for through nonfund accounts rather than within one of its governmental funds, such as the General Fund?

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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 04:49 AM

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Why are a municipalitys general capital assets and general long-term liabilities accounted for through nonfund accounts rather

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General capital assets are not considered appropriable resources and unmatured genera...View the full answer

Governmental and Nonprofit Accounting

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