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A municipality was granted certain land for use as a playground. The property's estimated acquisition value was $400,000 at the time of the grant. Subsequently,
A municipality was granted certain land for use as a playground. The property's estimated acquisition value was $400,000 at the time of the grant. Subsequently, all land in the neighborhood rose in value by 30%. Should the increase be reflected in the GCA accounts? Why or why not?
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In the context of governmental accounting the term GCA typically refers to General Capital Assets General Capital Assets include land buildings equipm...
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Governmental and Nonprofit Accounting
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
10th edition
132751267, 978-0132751261
