Question: GASB standards require that: o General capital assets be recorded at historical costs. o Donated capital assets be recorded at their fair value at the

 GASB standards require that: o General capital assets be recorded at

GASB standards require that: o General capital assets be recorded at historical costs. o Donated capital assets be recorded at their fair value at the time of receipt, plus ancillary charges. O A capital asset be recorded at estimated cost if the cost of a capital asset was not recorded when the asset was acquired and it is unknown when accounting control over the asset occurred d All of the above ls recommended but not required

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