The government health center purchases an ambulance amounting to RO 12,000. Which among the following statement is true for recording the ambulance in government accounting books? a. Treated as income and shown in the statement of revenue and expenditure b. Treated as expenditure for the period and not shown in the statement of Assets and Liabilities c. Shown in the statement of assets and liabilities at its market value d. Shown in the statement of assets and liabilities at its written down value

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The government health center purchases an ambulance amounting to RO 12,000. Which among the following statement is true for recording the ambulance in government accounting books?
a.
Treated as income and shown in the statement of revenue and expenditure
b.
Treated as expenditure for the period and not shown in the statement of Assets and Liabilities
c.
Shown in the statement of assets and liabilities at its market value
d.
Shown in the statement of assets and liabilities at its written down value
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