Question
In the year a city enters into a capital lease to finance a new sanitation truck, the General Fund will report A. An increase in
In the year a city enters into a capital lease to finance a new sanitation truck, the General Fund will report
A. An increase in capital assets.
B. A decrease in fund balance equal to the cost of the new sanitation truck.
C. An other financing use.
D. A decrease in fund balance equal to the amount of any down payment required.
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael H. Granof, Saleha B. Khumawala
6th edition
978-1-119-4958, 9781118473047, 1118155971, 1118473043, 978-1118155974
