In the year a city enters into a capital lease to finance a new sanitation truck, the

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In the year a city enters into a capital lease to finance a new sanitation truck, the General Fund will report

A. An increase in capital assets.

B. A decrease in fund balance equal to the cost of the new sanitation truck.

C. An other financing use.

D. A decrease in fund balance equal to the amount of any down payment required.

Related Book For answer-question

Government and Not for Profit Accounting Concepts and Practices

ISBN: 978-1118155974

6th edition

Authors: Michael H. Granof, Saleha B. Khumawala

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Posted Date: Feb 08, 2022 12:34 AM

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In the year a city enters into a capital lease to finance a new sanitation truck, the

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Answer aan increase in capital assetsNo ba decrease in fund ... View the full answer

Government and Not for Profit Accounting Concepts and Practices

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