Which of the following assets would NOT be found in the general fund balance sheet of the City of Harrison?
A) Cash.
B) Capital assets.
C) Due from special revenue fund.
D) Due from state government.

Question

Which of the following assets would NOT be found in the general fund balance sheet of the City of Harrison? 
A) Cash.
B) Capital assets.
C) Due from special revenue fund.
D) Due from state government.

Quizplus · Accepted Answer

Capital assets are not reported in the general fund balance sheet. Instead, they are recorded in the government-wide financial statements, specifically in the statement of net position for governmental activities. The general fund typically includes more liquid assets and receivables that are expected to be used for current operations.

Which of the Following Assets Would NOT Be Found in the General