Which of the Following Accounts Would Not Be Included in a Government's

question 12

Multiple Choice

Which of the following accounts would not be included in a government's General Capital Assets accounts?

• A) Assets acquired under capital leases.
• B) Internal Service Fund equipment.
• C) Infrastructure.
• D) Accumulated depreciation.

---

Definitions:

Economic Theory

A set of principles and models that explain how economies function and how economic agents interact.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to offer for sale at those prices.

Demand Curve

A graph that shows the relationship between the price of a good and the quantity of that good that consumers are willing to purchase.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable change.