Question

On the government-wide statement of activities, depreciation expense for assets that essentially benefit all functions, such as the city hall, may be reported as a separate line item or on the same line as the General Government or similar function.
a) true
b) false

Answer 1

Answer:

True

Explanation:

Depreciation expenses for assets that essentially benefit all functions are reported as a separate line item or on the same line as the General Government or similar function.