Which of the Following Is One of the Requirements That

question 57

Multiple Choice

Which of the following is one of the requirements that must be met to elect the "modified approach" to reporting certain eligible infrastructure assets?

• A) The government omits the cost of the assets from the government-wide statement of net assets.
• B) The government maintains the assets at a condition level equal to or greater than 75 percent of the condition of a new asset.
• C) The government manages the assets using an asset management system that meets specific criteria.
• D) The government gets the permission of the Government Accounting Standards Board.