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    Exam 9: Advanced Topics for State and Local Governments
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    At the Inception of a Lease, No Entry Is Necessary
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At the Inception of a Lease, No Entry Is Necessary

Question 75

Question 75

True/False

At the inception of a lease, no entry is necessary to record capital lease agreements entered by the General Fund since neither the asset nor the lease obligation appear in the fund-basis statements.

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