Author Question: The initials GAAP stand for a. General Accounting Procedures b. Generally Accepted Plans c. ... (Read 107 times)

charchew · **on:** Jul 6, 2018

The initials GAAP stand for
a. General Accounting Procedures
b. Generally Accepted Plans
c. Generally Accepted Accounting Principles
d. Generally Accepted Accounting Practices

Question 2

Which of the following is true?

A. A government is required to record each major general government capital project in a separate Capital Projects Fund.
B. Acquisition or construction of general government capital assets must always be accounted for through a Capital Projects Fund.
C. A Capital Projects Fund is not required unless a project is financed by issuing bonds.
D. A Capital Projects Fund may be used to acquire vehicles and equipment.