Capital outlay expenditures of capital projects funds will result in additions to the general fixed assets reported in the government-wide Statement of Net Assets.

Question

Quizplus · Accepted Answer

Capital outlay expenditures of capital projects funds are used to acquire or improve major capital assets and are therefore reported in the government-wide Statement of Net Assets as additions to the general fixed assets.

Capital Outlay Expenditures of Capital Projects Funds Will Result in Additions