Multiple Choice
Capital assets used by an enterprise fund should be accounted for in the
A) Enterprise fund and depreciation on the capital assets should be recorded.
B) Business-type activities journal but no depreciation on the capital assets should be recorded.
C) Governmental activities journal and depreciation on the capital assets should be recorded.
D) Enterprise fund but no depreciation on the capital assets should be recorded.
Correct Answer:

Verified
Correct Answer:
Verified
Q29: Governmental funds account for assets but not
Q30: Nonmajor funds are not reported on the
Q31: Deferred inflow of resources and deferred outflow
Q32: The GASB requires budget-to-actual comparison information for
Q33: Governmental activities include the core services provided
Q35: Which of the following funds is a
Q36: Which of the following is True regarding
Q37: Explain the difference between measurement focus and
Q38: Activities a local government can engage in
Q39: Financial resources set aside to pay principal