Hiring employees, purchasing inventory and collecting cash from customers are all components of _________ ______________.
Fill in the blank(s) with correct word
Question 2
Land was donated to a government for use in a general government activity. The land should be reported in
A. The General Fund at its fair value when donated.
B. The General Capital Assets accounts at the cost incurred by the donor to acquire the land originally.
C. The General Capital Assets accounts at the fair value of the land on the date it was donated to the government.
D. The Capital Projects Fund since it is not a depreciable asset.
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