Chapter 5 - Government and Non-Profit Homework: Chapter 5...

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Government and Non-Profit Homework: Chapter 5 5-2 Multiple Choice 1. Under GASB standards, which of the following would be considered an example of an intangible asset? : B 2. Four new desktop computers, for which the cost exceeded the city’s capitalization threshold, were purchased for use in the city clerk’s office using General Fund resources. Which of the following entries would be required to completely record this transaction? : D 3. Which of the following assets would NOT be depreciated? : C 4. A capital projects fund would probably not be used for which of the following assets? : A 5. Machinery and Equipment depreciation expense for general capital assets totaled $163,000 for the reporting period. Which of the following correctly defines the recording of depreciation for general capital assets? : C 6. Which of the following is a correct statement regarding the use of the modified approach for accounting for eligible infrastructure assets? : A
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This note was uploaded on 06/15/2011 for the course ECON 101 taught by Professor Anderson during the Spring '11 term at Owensboro Community and Technical College.

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Chapter 5 - Government and Non-Profit Homework: Chapter 5...

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