Which of the Following Statements Regarding Capital Assets Is Not

question 25

Multiple Choice

Which of the following statements regarding capital assets is not True?

• A) Proprietary funds routinely account for capital assets used in their operations within the fund financial statements.
• B) Fiduciary funds do not account for property, plant, and equipment within the fund financial statements.
• C) Because governmental funds account only for current financial resources, these funds do not record capital assets acquired by the funds.
• D) General capital assets purchased or constructed with governmental fund resources are recorded in the governmental activities general ledger at the government-wide level.

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Definitions:

Domestically

Pertaining to activities, affairs, or products within one's own country, as opposed to international or foreign.

Internationally

Pertaining or relating to interactions or relations between nations; worldwide in scope or application.

Women's Movement

A social and political movement advocating for the rights and equality of women in various aspects of society.

Civil Rights Movement

A decades-long struggle, notably during the 1950s and 1960s, for African Americans to gain equal rights under the law in the United States.