Multiple Choice
Listed bellow are the required balance sheets and statements of net position for a county government:
Required
On which balance sheet(s) would each of the following accounts appear? Identify the financial statement(s) by number. The account may appear on one or more or none of the statements. If the account is not reported on any of the above financial statements, your answer is N/A.
-Fund statement: statement of fiduciary net position
A) Buildings, net of accumulated depreciation (enterprise fund)
B) Investments of an investment trust
C) Lease obligations, general fund
D) Equipment, net of accumulated depreciation, for capital projects fund
E) Accrued salaries and wages, general fund
F) Cash held from sales tax collections belonging to the state
G) Unrealized losses on enterprise fund derivative investments (hedges)
H) Long-term pension liability for enterprise fund
I) Long-term pension liability for general fund
J) Deferred outflows of resources: bond refunding (general fund)
Correct Answer:

Verified
Correct Answer:
Verified
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