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Powder City purchased a piece of equipment to be used by a department financed by the general fund. How should Powder report the acquisition in
Powder City purchased a piece of equipment to be used by a department financed by the general fund. How should Powder report the acquisition in the general fund?
Multiple Choice :
A.) As an expenditure
B.) As a receivable
C.) Capitalize, depreciation is optional
D.) Capitalize, depreciation is not permitted
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