Which of the following statements is true concerning intragovernmental transfers of capital assets?
A. If a proprietary fund is donating a capital asset to a general government department, the proprietary fund will debit capital contribution for the net book value of the donated capital asset.
B. If a proprietary fund donates a capital asset to a general government department, it will be reported as a nonoperating expense in the proprietary fund but as a transfer between activities at the government-wide level.
C. If a general government department donates a capital asset to an enterprise fund, the general fund will debit transfer out for the net book value of the donated asset.
D. If a general government department donates a capital asset to an enterprise fund, the general fund will debit capital contribution for the original cost of the capital asset.
Question 2
The balance of the account can be determined by adding all of the debits, adding all of the credits, and adding theamounts together.
a. True
b. False
Indicate whether the statement is true or false
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