Depreciation expense is recorded for a specific period of time. ...

[awywial]

Depreciation expense is recorded for a specific period of time.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

In accordance with a bond agreement, assets are being accumulated in a sinking fund to pay bonds due in 20 years. The assets are reported as Investments.
 
  What other information should be reported about that item on the face of the government-wide financial statements?
   a. It should be reported as part of net position invested in capital assets, net of related debt
   b. It should be reported as part of net position restricted for debt service
   c. It should be reported as part of net position reserved for debt service
   d. It should be reported as part of fund balance reserved for debt service

[bubulittle310@msn.cn]

Answer to Question 1

True

Answer to Question 2

b