A museum has invested substantial funds in the past for its collection.During the year,the museum hired a new accountant who decided that the collection should have been capitalized and amortized to operations.The accountant needs the approval of the Treasurer to prepare the journal entries required to correct the previous financial statements.
Required:
You are the treasurer of this museum.Outline your response to the accountant.

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The Answer of A museum has invested substantial funds in the past for its collection.During the year,the museum hired a new accountant who decided that the collection should have been capitalized and amortized to operations.The accountant needs the approval of the Treasurer to prepare the journal entries required to correct the previous financial statements.
Required:
You are the treasurer of this museum.Outline your response to the accountant.

A Museum Has Invested Substantial Funds in the Past for Its