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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Definitions:

Market Research

The process of gathering, analyzing, and interpreting information about a market, including information about potential customers and competitors.

Pleasing Behavior

Actions aimed at making others happy or satisfied, often by adapting one's behavior to meet their expectations or desires.

Recall

The process of retrieving information from memory.

Recognition

The action or process of recognizing or being recognized, such as identifying something as familiar or acknowledging the importance or quality of something.