The Utility Enterprise Fund Is in Year 2 of a Three-Year

question 20

Multiple Choice

The Utility Enterprise Fund is in Year 2 of a three-year construction project that is projected to cost $3,000,000. The fund incurred $300,000 of costs in Year 1 and $1,800,000 in Year 2. The fund will report

• A) Expenses of $300,000 in Year 1 and $1,800,000 in Year 2.
• B) Total construction in progress in Year 2 of $1,800,000.
• C) Total construction in progress in Year 2 of $2,100,000.
• D) Expenditures of $300,000 in Year 1 and $1,800,000 in Year 2.

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