Question 1

For the depreciation of infrastructure…

Accepted Answer

A)  Governments are required to record depreciation in the same manner as other depreciable fixed assets 
B)  Governments are required to record depreciation using a modified approach 
C)  Governments do not record depreciation for infrastructure 
D)  Governments are permitted a choice to use the modified approach or to record depreciation in the same manner as other depreciable fixed assets 
A)  Governments are required to record depreciation in the same manner as other depreciable fixed assets 
B)  Governments are required to record depreciation using a modified approach 
C)  Governments do not record depreciation for infrastructure 
D)  Governments are permitted a choice to use the modified approach or to record depreciation in the same manner as other depreciable fixed assets

Question 2

With the inception of GASB Statement 34, governments have the option to capitalize infrastructure assets.

Accepted Answer

A) True 
 B)False

For the depreciation of infrastructure…

With the inception of GASB Statement 34, governments have the option to capitalize infrastructure assets.

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

Overview of Financial Reporting for State and Local Governments

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent

Proprietary Funds

Fiduciary Trust Funds

Accounting for Special-Purpose Entities, Including Public Colleges and Universities

Accounting for Private Not-For-Profit Organizations

College and University Accounting Private Institutions

Accounting for Hospitals and Other Health Care Providers

Auditing, Tax-Exempt Organizations, and Evaluating Performance

Filters

Exam 8: Government-Wide Statements, Capital Assets, Long-Term Debt

For the depreciation of infrastructure…

With the inception of GASB Statement 34, governments have the option to capitalize infrastructure assets.

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

Overview of Financial Reporting for State and Local Governments

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent

Proprietary Funds

Fiduciary Trust Funds

Accounting for Special-Purpose Entities, Including Public Colleges and Universities

Accounting for Private Not-For-Profit Organizations

College and University Accounting Private Institutions

Accounting for Hospitals and Other Health Care Providers

Auditing, Tax-Exempt Organizations, and Evaluating Performance

Filters