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A Local Industry Donated One of Its Properties to the Anywhere

Question 22

Multiple Choice

A local industry donated one of its properties to the Anywhere School District. The school district plans to convert it to needed classroom space. In the year of the donation, the transaction will affect


A) The government-wide statements only.
B) The General Fund and General Capital Assets accounts.
C) The General Fund, the General Capital Assets accounts, and the government-wide financial statements.
D) The General Capital Assets accounts and the government-wide financial statements.

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