Ask Question
12 February, 15:58

The general fund collects taxes that are legally restricted for use in a future year. The amount of the collections is reported on the general fund's: A. Balance sheet as a deferred inflow. B. Operating statement as an other financing source. C. Operating statement as revenues. D. Balance sheet as a liability.

+5
Answers (1)
  1. 12 February, 16:29
    0
    Answer: A. Balance sheet as a deferred inflow.

    Explanation:

    A general fund is the primary fund used by a government entity. This fund is used to record all resource inflows and outflows that are not associated with special-purpose funds. The activities being paid for through the general fund constitute the core administrative and operational tasks of the government entity
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The general fund collects taxes that are legally restricted for use in a future year. The amount of the collections is reported on the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers