The excess of assets over liabilities (net equity). An excess of liabilities over assets is known as a deficit in fund balance.
N.Y. Comp. Codes R. & Regs. Tit. 10 § 441.142
The excess of assets over liabilities (net equity). An excess of liabilities over assets is known as a deficit in fund balance.
N.Y. Comp. Codes R. & Regs. Tit. 10 § 441.142