in accordance with gasb 34 basic financial statements mdash and management rsquo s d 606487

In accordance with GASB 34, Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Governments, which of the following statements is correct about the accounting for infrastructure assets using the modified approach?

1. I. Depreciation expense on the infrastructure assets should be reported on the government-wide statement of activities, under the governmental activities column.
2. II. Certain information about infrastructure assets reported using the modified approach is required supplementary information in the annual report.
   1. a. I only.
   2. b. II only.
   3. c. Both I and II.
   4. d. Neither I nor II.