Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 1 At the inception of a capital lease by a department accounted for in a county's general fund, the county will record the total
Question 1 At the inception of a capital lease by a department accounted for in a county's general fund, the county will record the total capitalizable cost of the lease in the GCA and in the total capitalizable cost of the lease less any down payment in the GLTL.
True
False
Question 2 A down payment made at the inception of a capital lease by a government fund department decreases the fund balance of the government fund.
True
False
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started