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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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Posts: 5977
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9 years ago
Which of the following statements is true concerning accounting and financial reporting practices related to capital asset acquisitions?
A.   Routine capital purchases such as vehicles and equipment often may be financed and accounted for in a General Fund.
B.   Most capital lease transactions related to governmental funds are accounted for in either the General Fund or a Debt Service Fund.
C.   Capital Project Funds may be used only for acquisition or construction of major capital facilities.
D.   Most capital projects last only for on fiscal year.
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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9 years ago
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goji.go Author
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#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
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#3
9 years ago
You're very welcome!
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