The object of government-wide financial statements is to represent the financial position and the operating results of the governmental entity as a whole. The government-wide financial statements are as follows: statement of net assets; and statement of activities. Depreciation is the physical wear and tear of fixed assets which could be calculated by adopting any method. To choose: Whether the given statement is true or false

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Chapter 18, Problem 18.24.12P

To determine

Introduction:The object of government-wide financial statements is to represent the financial position and the operating results of the governmental entity as a whole. The government-wide financial statements are as follows:

statement of net assets; and

statement of activities.

Depreciation is the physical wear and tear of fixed assets which could be calculated by adopting any method.

To choose:Whether the given statement is true or false

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