_____ for Governmental Funds at the Fund-Based Reporting Level, Which Statement

Multiple Choice

_____ For governmental funds at the fund-based reporting level, which statement is correct?

A) Depreciation expense is never reported.
B) Reporting depreciation expense is optional.
C) Capital assets are reported in these funds but are not depreciated.
D) Capital assets are not reported in these funds, but depreciation expense is reported.
E) None of the above.