In the Net Position Component Called "Invested in Capital Assets,net

question 20

Multiple Choice

In the net position component called "invested in capital assets,net of related debt" (that appears in proprietary fund financial statements) ,what is the meaning of net of related debt?

• A)bonds,notes,or other borrowings originally issued to acquire or improve the capital assets shown in the amount invested in capital assets
• B)outstanding balances of bonds,notes,or other borrowings,issued for any purpose approved by the governing body
• C)outstanding balances of all liabilities,regardless of their form,issued to acquire or improve the capital assets shown in the amount invested in capital assets
• D)outstanding balances of bonds,notes,or other borrowings,issued to acquire or improve the capital assets shown in the amount invested in capital assets

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Definitions:

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