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Depreciation of capital assets is not recognized as an expense in a Special Revenue Fund, but it is recognized as an expenseRevenue is recognized in governmental-type funds when it is earned. Select one: True FalseUnder the modified accrual basis of accounting, expenditures are generally recognized in the period that goods and services a

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Answer #1

1. True,

Depreciation of capital assets is not recognized as an expense ina special revenue fund, but it is recognized as an expense in an Internal Service Fund.

2. True,

In governmental type funds, revenues are recognized when they are measurable and available.

3. False

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