Under GASB Statement 34,capital Assets

question 87

Multiple Choice

Under GASB Statement 34,capital assets:

• A) must be reported in government-wide statements but are not reported in any of the fund financial statements.
• B) must be reported in government-wide statements and in proprietary fund financial statements.
• C) are not to be reported in either government-wide or fund financial statements.
• D) are to be reported but not depreciated in government-wide and fund financial statements.

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Definitions:

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