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Question 8. Which of the following categories of general government capital assets may be subject to the modified approach in relation to depreciation? a. Present

Question 8. Which of the following categories of general government capital assets may be subject to the modified approach in relation to depreciation?

  1. a.

    Present value of capitalized lease acquisitions

    b.

    Construction in progress

    c.

    Infrastructure

    d.

    Works of art and historical treasures

QUESTION 9

  1. Captial Project Funds

    a.

    Are frequently used tby SLGs to account for general government capital lease acquisitions

    b.

    Are required to be used to account for capital asset acquisitions financed from general obligation bond proceeds, and also whenever legally or contractually required

    c.

    Are not required to be used by SLGs

    d.

    Do not record Other Financing Sources and Other Financing Uses on their Operating Statements

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