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Posted: June 24th, 2023

A government buys equipment for its police department

A government buys equipment for its police department at a cost of $54,000. Which of the following is not true?a. Equipment will increase by $54,000 in the government-wide financial statements.b. Depreciation in connection with this equipment will be reported in the fund-based financial statements.c. The equipment will not appear within the reported assets in the fund-based financial statements.d. An expenditure for $54,000 will be reported in the fund-based financial statements.

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