With Regard to Capitalization of Infrastructure, Which of the Following

question 12

Multiple Choice

With regard to capitalization of infrastructure, which of the following is true?

• A)All infrastructure assets must be capitalized on the financial statements before GASB Statement 34 can be implemented.
• B)Only large governments must capitalize infrastructure assets on the date they implement GASB Statement 34.
• C)Only small- and medium-size government may elect to delay capitalization of infrastructure assets.
• D)Small governments may omit capitalizing infrastructure assets acquired or that received significant improvements before June 15, 2003.

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Definitions:

Pressured

Feeling stressed or coerced into doing something, often resulting from urgent demands or high expectations.

Empathy

Reacting to another’s feelings with an emotional response that is similar to the other’s feelings.

Marathon

A long-distance running event with an official distance of 42.195 kilometers, typically a race, requiring endurance and stamina.

Pleasure

A feeling of happiness, enjoyment, or satisfaction derived from an experience.