General capital assets must be depreciated and the amount of depreciation for the period should be reported in the operating statement for governmental activities at the government-wide level.

Question

Quizplus · Accepted Answer

Under GASB standards depreciation expense that can be identified with particular functions or programs and be reported as part of the expenses of those functions or programs in the government-wide statement of activities. Depreciation that cannot be identified with functions or activities may be reported as a separate line item.

General Capital Assets Must Be Depreciated and the Amount of Depreciation