Multiple Choice
Which of the following is true?
A) A government is required to record each major general government capital project in a separate Capital Projects Fund.
B) Acquisition or construction of general government capital assets must always be accounted for through a Capital Projects Fund.
C) A Capital Projects Fund is not required by GAAP if a general government project is financed by issuing general obligation bonds.
D) A Capital Projects Fund may be used to acquire vehicles and equipment.
Correct Answer:
Verified
Correct Answer:
Verified
Q44: A Capital Projects Fund may report a
Q45: Which of the following transactions would not
Q46: The city is installing curbs and sidewalks
Q47: Assume that a government received a $5,000,000
Q48: If a governmental entity issued a six-month,
Q49: A governmental entity is funding a capital
Q50: Ledford County issued $2,000,000 of general obligation
Q52: The City of Bamberg, which has a
Q53: The county issued a six-month, 6%, $200,000
Q54: Which of the following capital asset-related transactions