41.Debt limit is the total amount of indebtedness of specified kinds that is allowed by law to be outstanding at any time. 42.GASB standards require a reconciliation from fund financial statements...

41.Debt limit is the total amount of indebtedness of specified kinds that is allowed by law to be outstanding at any time.

42.GASB standards require a reconciliation from fund financial statements to government-wide financial statements.

43.When using the modified approach to account for infrastructures, expenditures to extend the life of the infrastructure assets are
notcapitalized.

44.When using the modified approach to account for infrastructures, expenditures to extend the life of the infrastructure assets are expensed.

45.Governments must capitalize infrastructure assets in the government-wide statements

46.Governments have the option to capitalize infrastructure assets in the governmental funds’ fund-basis financial statements.