In which fund would the purchase and amortization of the asset be recorded?

Name: In which fund would the purchase and amortization of the asset be recorded?
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Question

Quizplus · Accepted Answer

The purchase and amortization of an asset would be recorded in the Capital Fund, as this fund is used to account for long-term and capital assets. The General Fund is used for operating expenses, the Operating Fund is used for revenue-generating activities, and the Encumbrance Fund is used for reserving funds for anticipated expenses.

In Which Fund Would the Purchase and Amortization of the Asset