In a classroom discussion of accounting standards for the voluntarily maintained general capital assets account group of a governmental entity, student Raul questioned the logic of recording depreciation on plant assets accounted for in that accounting unit. Said Raul: "The general capital assets account group is not a fund; therefore, it has no need to make memorandum journal entries for depreciation."
Do you agree with student Raul? Explain.

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The Answer of In a classroom discussion of accounting standards for the voluntarily maintained general capital assets account group of a governmental entity, student Raul questioned the logic of recording depreciation on plant assets accounted for in that accounting unit. Said Raul: "The general capital assets account group is not a fund; therefore, it has no need to make memorandum journal entries for depreciation."
Do you agree with student Raul? Explain.

In a Classroom Discussion of Accounting Standards for the Voluntarily