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*********NEW ANS PLSSS 1. Explain what disclosures the GASB requires for capital assets and leased assets in the notes to the financial statements 2. Compare

*********NEW ANS PLSSS

1. Explain what disclosures the GASB requires for capital assets and leased assets in the notes to the financial statements

2. Compare and contrast the valuation of general capital assets of a government to the valuation of assets of a for-profit entity. What special issues may arise in valuing a governments assets that generally do not occur in a for-profit company?

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