Final answer:
Capital assets in governmental funds should be noted in general ledger accounts at the government-wide level, similar to a T-account representation.
Step-by-step explanation:
Accountability for capital assets used by departments accounted for by the governmental funds of a government should be established in the general ledger accounts at the government-wide level. The general ledger is akin to a T-account, which details assets and liabilities and shows balances in a two-column format that forms the shape of a 'T' with a vertical line down the middle and a horizontal line under column headings. Establishing accountability at the government-wide level ensures that all assets are accounted for and reported in the financial statements, matching the unit of account standard used to measure market values in the economy.
The general ledger is the main accounting record that contains all the asset, liability, revenue, and expense accounts. It provides a comprehensive view of the financial transactions and balances of the government.
By establishing accountability in the general ledger accounts, the government can track the acquisition, use, and disposal of capital assets, ensuring proper management and control.