If a Government Elects to Capitalize Certain Works of Art

question 37

Multiple Choice

If a government elects to capitalize certain works of art and similar assets, which of the following statements is true relative to depreciation on those assets?

• A) Donated assets cannot be depreciated.
• B) All of the capitalized assets must be depreciated.
• C) All exhaustible works of art and similar assets must be depreciated.
• D) The government may elect to omit all depreciation.

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Definitions:

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