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ga527940
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Joined: 02 Jun 2008
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Posted: 19 Mar 2009 at 17:14 \| IP Logged

What is the answer of this question?

Which of the following would never be an appropriate treatment in a governmental fund for the proceeds of the sale of capital assets?

A) Revenue.
B) Other financing source.
C) Special item.
D) Each of the above may be appropriate given the circumstances.

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divyagovil1
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Joined: 30 Jan 2009
Location: India
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Posts: 1456

Posted: 19 Mar 2009 at 17:24 \| IP Logged

hmmm... this is making me think ! we have already expensed the purchase of capital asset in governmental fund in fund financial statement....

Now, what about the proceeds from the sale of capital assets?

would love to know the answer !

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Divya - CO State

Passed using Becker Review :
FAR - 04/11/09 - 94
BEC - 05/30/09 - 86
REG - 08/29/09 - 95
AUD - 11/21/09 - 92
Ethics - 2011

ga527940
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Joined: 02 Jun 2008
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Posted: 19 Mar 2009 at 22:01 \| IP Logged

divyagovil1 wrote:

hmmm... this is making me think ! we have already expensed the purchase of capital asset in governmental fund in fund financial statement....

Now, what about the proceeds from the sale of capital assets?

would love to know the answer !

One of my friends asked me today, I don't know the answer, too. But it looks like need to know that.

__________________
BEC - 79
FAR - 82
AUD - 89
REG - 86

ga527940
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Joined: 02 Jun 2008
Online Status: Offline
Posts: 11

Posted: 22 Mar 2009 at 19:49 \| IP Logged

I select "A"

__________________
BEC - 79
FAR - 82
AUD - 89
REG - 86

divyagovil1
Major Contributor

Joined: 30 Jan 2009
Location: India
Online Status: Offline
Posts: 1456

Posted: 22 Mar 2009 at 20:51 \| IP Logged

I am still unsure with the answer.... What could be the reason? Thanks !

__________________
Divya - CO State

Passed using Becker Review :
FAR - 04/11/09 - 94
BEC - 05/30/09 - 86
REG - 08/29/09 - 95
AUD - 11/21/09 - 92
Ethics - 2011

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