Question
At the inception of a capital lease agreement for a piece of equipment used in governmental operations: An Other financing Source is recorded in the
At the inception of a capital lease agreement for a piece of equipment used in governmental operations:
An Other financing Source is recorded in the General Fund.
A liability is incurred and reported in the government-wide financial statements.
An expenditure is recorded in the governmental fund.
All of the choices are correct.
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Financial Accounting Tools For Business Decision-Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
2nd Canadian Edition
0470833378, 978-0470833377
