When Internal Service Funds [ISFs] present net position in their financial statements, they can use up to three line items, including net investment in capital assets, restricted, and unrestricted.

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True

False

The Enterprise Fund net position component called, Net Investment in Capital Assets, is equal to the sum of all capital assets net of accumulated depreciation reported on those assets.

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True

False

With a defined contribution pension arrangement, a government typically contributes a certain percentage of an employees salary to an account in the employees name.

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True

False

A states Investment Trust Funds statement of changes in fiduciary net position likely will include a deduction for distributions to pool or fund participants.

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True

False

The GASB considers accountability as an important objective of financial reporting.

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True

False