The Modified Approach to Accounting for Infrastructure Assets May Be

question 20

Multiple Choice

The modified approach to accounting for infrastructure assets may be utilized by a state or local government if:The government accumulates information about all infrastructure assets within either a network or subsystem of a network.The government capitalizes infrastructure assets.The government expenses costs of maintaining the infrastructure assets.The government chooses to depreciate its infrastructure assets.

• A) i and ii.
• B) i, ii, and iv.
• C) ii and iii.
• D) i, ii, and iii.
• E) i, ii, iii, and iv.

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Definitions:

Improved Quality

Improved quality involves enhancements in the standard or grade of products or services to meet or exceed customer expectations.

Entrepreneur

An individual who starts, operates, and assumes the risk of a business venture, aiming to transform innovations into economic goods.

Necessary Risks

Risks that are considered essential to take in pursuit of achieving objectives, innovation, or staying competitive in business.

Entrepreneurs

Individuals who create, organize, and operate businesses, taking on greater than normal financial risks in order to do so.