With Regard to Accounting for Infrastructure, Which of the Following

question 22

Multiple Choice

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

• A) Unlike other capitalized assets, infrastructure assets should never be depreciated.
• B) The costs of general government infrastructure assets should be recognized as expenditures in governmental fund statements as the costs are incurred.
• C) Governments that choose to apply the modified approach to accounting for infrastructure need not capitalize infrastructure assets.
• D) Under the modified approach, governments should capitalize both the initial costs of infrastructure assets and subsequent outlays intended to preserve and extend the assets' useful lives.

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Definitions:

Biological Psychologists

Scientists who study the biological underpinnings of behavior, including genetic, neurological, and physiological processes.

Cognitive Perspective

A psychological approach that focuses on how people perceive, think about, and remember information, emphasizing mental processes.

Unconscious Conflicts

Internal struggles stemming from desires, impulses, or memories that are not within our conscious awareness, often influencing behavior and emotions.

Cultural Environments

The social and cultural settings that influence the values, behaviors, and practices of individuals and communities.