Works of art and historical treasures purchased by the general fund should be reported as:
I.an expenditure in the general fund.
II.assets in the government-wide financial statements.
A)I only.
B)II only.
C)Both I and II.
D)Neither I nor II.

Question

Quizplus · Accepted Answer

Works of art and historical treasures purchased by the general fund should be reported as:
I.an expenditure in the general fund.
II.assets in the government-wide financial statements.

Works of Art and Historical Treasures Purchased by the General