What is the rule regarding depreciation of federal capital assets classified as general property plant and equipment (General PP&E) ?
A) All General PP&E is capitalized and depreciated.
B) General PP&E is capitalized and depreciated only for federal business-type activities.
C) All General PP&E is expensed at the time of acquisition.
D) Federal agencies have the option of depreciating or not depreciating General PP&E.
Correct Answer:
Verified
Q11: What is the name of the entity
Q12: When do federal agencies make an entry
Q13: Name the two major categories of funds
Q14: Which of the following actions will reduce
Q15: When are expenses and liabilities recognized for
Q17: Which one of the following actions requires
Q18: What basis of accounting is used in
Q19: Which of the following does not account
Q20: Which of the following statements is false?
A)Depreciation
Q21: State whether each of the following are
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents