Which of the following is true about use of the modified approach? 1 answer below »

Which of the following is true about use of the modified approach?

a. It can be applied to all capital assets of a state or local government.

b. It is used to adjust depreciation expense either up or down based on conditions for the period.

c. It is required for infrastructure assets.

d. For qualified assets, it eliminates the recording of depreciation.

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