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The inability to make payments on time is equity insolvency. True False Question 14 (0.5 points) GASB 54 requires that a special revenue fund balance

The inability to make payments on time is equity insolvency. True False Question 14 (0.5 points) GASB 54 requires that a special revenue fund balance be classified as nonspendable, restricted, encumbered or assigned. True False Question 15 (0.5 points) A capital lease used by the government to acquire general fixed assets requires a credit to other financing sources - capital lease. O True False

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