How should the fund balance of a debt service fund generally be incorporated into the government-wide statement of net position?
A) Net position-investment in capital assets, net of related debt
B) Net position-unassigned
C) Net position-unrestricted
D) Net position-restricted

Question

Quizplus · Accepted Answer

The fund balance of a debt service fund is typically reported in the government-wide statement of net position as "Net position-restricted" because these funds are restricted for the purpose of servicing debt.

How Should the Fund Balance of a Debt Service Fund