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At the inception of a capital lease agreement for a piece of equipment used in governmental operations. Multiple Choice a liability is incurred and reported in the governmental fund's balance sheet. a liability is incurred and reported in the government-wide financial statements an expenditure is recorded in the governmental fund Both a liability is incurred and reported in the government-wide financial statements; and an expenditure is recorded in the governmental fund Show transcribed image text At the inception of a capital lease agreement for a piece of equipment used in governmental operations. Multiple Choice a liability is incurred and reported in the governmental fund's balance sheet. a liability is incurred and reported in the government-wide financial statements an expenditure is recorded in the governmental fund Both a liability is incurred and reported in the government-wide financial statements; and an expenditure is recorded in the governmental fund
At the inception of a capital lease agreement for a piece of equipment used in governmental operations. Multiple Choice a liability is incurred and reported in the governmental fund's balance sheet. a liability is incurred and reported in the government-wide financial statements an expenditure is recorded in the governmental fund Both a liability is incurred and reported in the government-wide financial statements; and an expenditure is recorded in the governmental fund
Show transcribed image text At the inception of a capital lease agreement for a piece of equipment used in governmental operations. Multiple Choice a liability is incurred and reported in the governmental fund's balance sheet. a liability is incurred and reported in the government-wide financial statements an expenditure is recorded in the governmental fund Both a liability is incurred and reported in the government-wide financial statements; and an expenditure is recorded in the governmental fund 2
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