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Question 21 Not yet answered Depreciation on capital assets is not included as an expense in the Statement of Activities in governmental fund statements Marked out of 0.40 P Flag question Select one: True False In governments, in contrast to businesses..... Question 22 Not yet answered Marked out of 0.40 P Flag question Select one: The amount of expenditures is independent of the amount of revenues collected There may not be a direct relationship between revenues raised and the demand for the entity's services Expenditures are driven mainly by the ability of the entity to raise revenues The amount of revenues collected is a signal of the demand for services Question 23 Hot yet answered Marked out of 0.40 The city sold a fire truck for $40,000 that it had acquired five years earlier for $250,000. At the time sale the city had charged $225,000 in depreciation. The increase in general fund balance owing to sales of the fire truck is... Flag question Select one: $15,000 $60,000 $40,000 $ 25,000 Question 24 Based on types of activities, Governments classify funds into ..... categories Not yet answered Marked out of 0.40 Select one: 0 12 5 P Flag question as much as necessary 3 Question 25 Assets are: Not yet answered Marked out of 0.40 Flag question Select one: Resources with present service capacity that the government presently The residual of all other elements presented in a statement of financ Present obligations to sacrifice resources that the government has li Acquisitions of net assets by the government that are applicable to the reporting per