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QUESTION 5 Which of the following is a true statement regarding assets in governmental accounting? They are defined the same way as in for-profit company

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QUESTION 5 Which of the following is a true statement regarding "assets" in governmental accounting? They are defined the same way as in for-profit company accounting They include resources with present service capacity, even if the government does not expect future cash inflows from these resources In government-wide statements, they only include items that will be converted into cash within one year They include only items that will provide future economic benefits to the government in the form of future inflows of net resources

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