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Where would the capital lease be reported in the gfs

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Question: 1. A concerned citizen provides resources and establishes a trust with the local government. What factors should be considered in determining which fund to report the trust activities?

2. Assume a government leases equipment to be used in governmental activities under a noncancelable lease, meeting the requirements for classification as a capital lease. Where would the capital lease be reported in the government's financial statements(GFS)?

Reference no: EM131525597

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