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MC10-27. A government may choose to use the modified approach to account for its infrastructure assets in its proprietary fund and government-wide financial statements. Which

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MC10-27. A government may choose to use the modified approach to account for its infrastructure assets in its proprietary fund and government-wide financial statements. Which of the following is not true regarding financial reporting for governments that use the modified approach? a. Governments that use the modified approach do not report depreciation expense. b. Governments that use the modified approach must immediately expense costs incurred to preserve infrastructure assets. c. Governments that use modified approach must immediately expense costs incurred for additions or improvements to infrastructure assets. d. All of the above. e. None of the above

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