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When accounting for fixed assets for the general fund, the fixed assets are accounted for in...

When accounting for fixed assets for the general fund, the fixed assets are accounted for in the ____________ not in the general fund. The fixed assets are then added to the general fund when preparing the government wide financial statements.

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When accounting for fixed assets for the general fund, the fixed assets are accounted for in the Self balancing accounts not in the general fund. The fixed assets are then added to the general fund when preparing the government wide financial statements.

Fixed assets is a part of government wide financial statements, but they are not reported in government fund statements. Initially it is recorded under self balancing accounts and later it will be added to general fund when preparing the government wide financial statements.

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