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    Accounting for Governmental Study Set 2
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    Exam 7: Accounting for the Business-Type Activities of State and Local Governments
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    Equipment Acquired Under a Capital Lease for Use by an Internal
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Equipment Acquired Under a Capital Lease for Use by an Internal

Question 44

Question 44

True/False

Equipment acquired under a capital 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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