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Why would fund statements not include long-lived assets

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Does society today have the same values as the past? Should it?

Without a going concern assumption, should asset be depreciated? Why?

Why would fund statements not include long-lived assets?

How, specifically, does capitalizing and depreciating assets like highways add information that is useful for constituents more than the other disclosures about infrastructure under other information?

What is meant by the term fiduciary duty in the case of these three trust funds?

Direct and indirect expenses.

Reference no: EM131569971

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