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6. At the inception of a capital lease agreement for a piece of equipment used in enterprise fund operations: Multiple Choice an Other Financing Source

6. At the inception of a capital lease agreement for a piece of equipment used in enterprise fund operations:

Multiple Choice

an Other Financing Source is recorded in the enterprise fund.

a liability is incurred and reported in the enterprise fund-basis financial statements.

an expenditure is recorded in the enterprise fund.

All of the choices are correct.

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