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    Business
  3. Study Set
    Accounting for Governmental
  4. Exam
    Exam 7: Accounting for the Business-type Activities of State and Local Governments
  5. Question
    Equipment Acquired Under a Lease for Use by an Internal
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Equipment Acquired Under a Lease for Use by an Internal

Question 73

Question 73

True/False

Equipment acquired under a lease for use by an internal service fund will be reported as a capital asset in both the fund and government-wide financial statements.

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