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QUESTION 7 In fund financial statements for governmental units, depreciation expense on assets acquired with...

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QUESTION 7 In fund financial statements for governmental units, depreciation expense on assets acquired with capital grants externally restricted for capital acquisitions should be reported in which type of fund? Governmental Proprietary Fund Fund Yes Yes Governmental Proprietary Fund Fund Yes No Governmental Proprietary Fund Eund No No Governmental Proprietary Fund Fund No Yes QUESTION 8 Which of the following is a required financial statement for an investment trust fund? Statement of revenues, expenditures, and changes in fiduciary net position Statement of revenues, expenses, and changes in fiduciary net position Statement of activities Statement of changes in fiduciary net position

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