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A Government Has the Following General Government Capital Assets What Is the Minimum Amount of General Capital Assets the

Question 46

Multiple Choice

A government has the following general government capital assets:  Streets and roads$17,000Buildings $20,000 Equipment$4,000Assets acquired under capital leases $1,000\begin{array}{llr} \text { Streets and roads} &\$17,000\\ \text {Buildings } &\$20,000\\ \text { Equipment} &\$4,000\\ \text {Assets acquired under capital leases } &\$1,000\\\end{array}

What is the minimum amount of general capital assets the government may report under GAAP?


A) $42,000
B) $41,000
C) $25,000
D) $24,000

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