This question has been answered by pkjain on Dec 4, 2012. View Solution
Melinda1045 posted a question Dec 03, 2012 at 12:19pm
Upon examining the balance sheet of a large city, you notice that the total assets of the general fund far exceed those of the combined total of the city's ten separate special revenue funds. Moreover, you observe that there are no funds for public safety, sanitation, health and welfare, and general administration - all important functions of the government. Why do you suppose the city hasn't attempted to "even out" the assets in the funds? Why does it not maintain funds for each of its major functional areas?
answered the question Dec 04, 2012 at 10:00pm
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Upon examining the balance sheet of a large city, you notice that the total assets of the general
fund far exceed those of the combined total of the city's ten separate special revenue...