In governmental funds, the capital asset costs are reported as expenses when the assets are acquired.
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Q2: Unlike businesses, governments should not capitalize interest
Q3: Most infrastructure assets are the responsibility of
Q5: General capital assets are distinguished from the
Q6: Donated assets are reported in the government-wide
Q8: Governments do not have to depreciate infrastructure
Q10: Jefferson County bought a new backhoe using
Q12: The objectives of financial reporting for fixed
Q14: Governments invest in marketable securities for much
Q16: A governmental entity may record long-term assets
Q17: At the government-wide level, governments must depreciate
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