What is the definitive factor in determining which government should report a given capital asset on its statement of position?

The definitive factor in determining which government should report a given capital asset on its statement of position is title. Title refers to legal ownership, which plays a crucial role in financial reporting. When a government holds legal title to an asset, it is recognized as the owner responsible for that asset in its financial statements. This helps to ensure that the financial position accurately reflects the resources and obligations that the government has.

Ownership described by title signifies control over the asset and the associated rights to benefit from its use, as well as the responsibility for any liabilities that may arise from it. By reporting assets based on title, governments provide transparency and accountability, making it clear to stakeholders which entity has jurisdiction over specific capital resources.

While factors such as usage, responsibility for maintenance, and residual interest are relevant in the broader context of resource allocation and management, they do not supersede the legal implications of ownership that title conveys in financial reporting.