Depreciation expense for the current year was $366,750 in the Water Enterprise Fund. Depreciation expense will be reported at the government-wide level as

Question

Quizplus · Accepted Answer

Depreciation expense in the Water Enterprise Fund is a direct expense of the business-type activity and should be included as part of the business-type activities expenses for the water activity at the government-wide level. It should not be reported as part of unallocated depreciation expense in governmental or business-type activities, or as capital outlay expenses in business-type activities.

Depreciation Expense for the Current Year Was $366,750 in the Water