18. The police department (a General Fund department) purchased three new police vehicles. Annual depreciation on...
18. The police department (a General Fund department) purchased three new police vehicles. Annual depreciation on the new vehicles will be reported in the General Fund financial statements.
a. True
b. False
Homework Answers
Answer :-
The Correct Answer is Option b - False
Explanation :-
Option a - True is wrong as Annual depreciation on new vehicles will be not reported in General Fund financial statements. Annual depreciation will be reported in the Government wide financial statements.
So the correct answer is Option b - False.
As Annual depreciation is reported in Government wide financial statements.
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