During the current year, a government buys land for $80,000. Which of the following is not true? Choose the correct.a. The land could be reported as an asset by the business-type activities in the government-wide financial statements.b. The land could be reported as an asset by the governmental activities in the government-wide financial statements.c. The land could be reported as an asset by the proprietary funds in the fund financial statements.d. The land could be reported as an asset by the governmental funds in the fund financial statements.

During the current year, a government buys land for $80,000. Which of the following is not true? Choose the correct.a. The land could be reported as an asset by the business-type activities in the government-wide financial statements.b. The land could be reported as an asset by the governmental activities in the government-wide financial statements.c. The land could be reported as an asset by the proprietary funds in the fund financial statements.d. The land could be reported as an asset by the governmental funds in the fund financial statements.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter24: Multistate Corporate Taxation

Section: Chapter Questions

Problem 10DQ

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