Depreciation on Capital Assets Is Included as an Expense in the Statement

question 107

True/False

Depreciation on capital assets is included as an expense in the Statement of Revenues, Expenses, and Changes in Fund Net Position in the proprietary fund financial statements

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Definitions:

Handwritten

Refers to text that has been written by hand, as opposed to being printed or digitally produced.

Negotiable Instrument

An official paper that obligates the payment of a fixed money amount, which can be demanded at any time or paid at a specific interval, with the document listing the responsible payer's name.

Words of Negotiability

Specific legal phrases or terms used in a financial instrument that indicate its transferability or negotiability.

Bearer Instrument

A negotiable financial instrument that entitles the holder or bearer to the rights stated on the document.