Oxalis City entered into a capital lease agreement as a lessec for several new dump trucks to be used in general government activities. The city maintains its books and records in a manner that facilitates the preparation of the fund financial statements. Which of the following is true? The title of the asset is transferred to Olden City. The lease is recorded as a long-term liability at the present value of the lease. The interest expenditure would be recorded on the government-wide financial statements. The term of the lease is specified in the lease contract without consideration of cancellation options