Which of the following statements is true concerning the accounting and financial reporting for long-term leases in governmental funds? Select one: a. When a governmental fund enters into a long-term lease, the transaction should result in a capital outlay expenditure and an other financing source. O b. The fund liability equals the present value of the minimum lease payments. O c. Capital leases in governmental funds do not result in expenditures in either the current or future periods. O d. Both the leased asset and the current portion of the lease liability must be reported in the governmental fund balance sheet