Which of the Following Statements About Accounting for Pollution Remediation

question 37

Multiple Choice

Which of the following statements about accounting for pollution remediation costs is NOT true?

• A) They may be accounted for in either an enterprise fund or a governmental fund.
• B) In the government-wide statements, estimates of costs to be incurred in the future should be reported as expenses and offsetting liabilities.
• C) Because of the potential effects on public health, liabilities for all estimated remediation costs should be considered and reported as current liabilities.
• D) Remediation costs to be accounted for include postremediation monitoring costs as well as actual cleanup costs.

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