Capital assets used by governmental funds should be reported in:

Question

Quizplus · Accepted Answer

Capital assets used by governmental funds should be reported in the governmental activities column of the government-wide statements. This provides a more comprehensive view of the assets owned by the government and their usage, which is important for decision-making purposes. Reporting them in the appropriate governmental fund or in departmental memorandum records would only provide a partial view of the assets and could lead to incomplete or inaccurate analysis of the government's financial position. The property, plant, and equipment fund is not a commonly used fund in governmental accounting.

Capital Assets Used by Governmental Funds Should Be Reported In