When a capital lease is used to lease fixed assets for the general government,the governmental fund acquiring the fixed assets debits ________ at the ________.
A) expenditures;future value of the minimum lease payments
B) fixed assets;future value of the minimum lease payments
C) expenditures;present value of the minimum lease payments
D) fixed assets;present value of the minimum lease payments
Correct Answer:
Verified
Q3: The proper sequence of events is
A)purchase order,appropriation,encumbrance,expenditure.
B)purchase
Q4: Which of the following represents the recording
Q5: The General Fund transfers $50,000 cash to
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Q9: When recording an approved budget into the
Q10: Use the following information to answer the
Q10: What statements are required for Government-wide financial
Q12: Goodwill County had the following transactions for
Q14: Use the following information to answer the
Q18: The proceeds from a bond issuance for
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