Gouge County reported $365,000 of committed fund balance in its General Fund. The commitment is for future
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Gouge County reported $365,000 of committed fund balance in its General Fund. The commitment is for future capital improvements. How will this amount most likely be reflected in net assets in the government-wide financial statements?
a. Restricted net assets—$365,000.
b. Included as part of unrestricted net assets.
c. Included as part of invested in capital assets, net of related debt.
d. Designated, unrestricted net assets—$365,000.
e. None of the above.
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The correct answer is d Designated unrestricted net assets365000 Committed fund balance in t...View the full answer
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Related Book For 
Governmental And Nonprofit Accounting Theory And Practice
ISBN: 9780132552721
9th Edition
Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,
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