In accounting for operating leases, the rental payments should be recognized in a governmental fund and as expenses in the government-wide statement of activities in the periods in which they apply.
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Q1: Governments may enter into operating leases, but
Q4: A governmental entity that is unable to
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Q10: Because they are not obligations of the
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Q15: General obligation debt is the obligation of
Q17: Unlike individuals and businesses, governments cannot seek
Q17: Per GASB Statement No.34, governments generally should
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