Explain an agency fund or a governmental fund
Why do the balance sheets of agency funds contain only assets and liabilities, but no fund balances? Why is it often unclear whether the resources relating to a particular activity should be accounted for in an agency fund or a governmental fund?
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For this week's discussion assignment look at the balance sheet of the company you chose in Week 1 (General Motors). Calculate the current ratio, quick ratio, and debt to equity ratio for your company.
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