8. Under GASB Statement No. 34, which of the following is true of infrastructure? a. Infrastructure must be recorded and depreciated unless a modified approach is used, in which case, depreciation is...

8. Under GASB Statement No. 34, which of the following is true of infrastructure?

a. Infrastructure must be recorded and depreciated unless a modified approach is used, in which case, depreciation is not required.

b. Infrastructure must be recorded and depreciated in all cases.

c. Infrastructure is not to be recorded and depreciated.

d. The state and local governments have the option, but are not required, to record and depreciate infrastructure.