Question
The accounting equation for a special revenue fund is : Assets Liabilities = Net Position. Financial Assets + Deferred Outflows Related Liabilities
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.
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Governmental and Nonprofit Accounting
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
10th edition
132751267, 978-0132751261
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