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Explain what disclosures the gasb requires for capital assets and leased assets in the notes to the financial statements

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1. Explain what disclosures the GASB requires for capital assets and leased assets in the notes to the financial statements
2. Compare and contrast the valuation of general capital assets of a government to the valuation of assets of a for-profit entity. What special issues may arise in valuing a government’s assets that generally do not occur in a for-profit company

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