Activities accounts at the inception

Reference no: EM13131454

Equipment acquired under capital leases and used by activities accounted for in governmental funds should be recorded in the governmental activities accounts at the inception of the lease at:

A) Fair value.

B) Present value of minimum lease payments.

C) Lower of fair value or present value of minimum lease payments.

D) None of the above; leased assets should not be recorded in the accounts.

Reference no: EM13131454

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