Apex County Advance Refunded $3,000,000 of Outstanding Bonds

question 42

Multiple Choice

Apex County advance refunded $3,000,000 of outstanding bonds. $2,500,000 was financed with net refunding bond proceeds and the remaining $500,000 was transferred from the General Fund. The county incurred $35,000 of bond issuance costs when issuing the refunding bonds. Which of the following statements about the reporting of these transactions in the Debt Service Fund is not true? The Debt Service Fund financial statements would report

• A) $2,500,000 of other financing uses.
• B) Expenditures of $535,000.
• C) Transfers in of $500,000.
• D) Net other financing sources and uses of $500,000.

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Definitions:

Action Potential

A rapid rise and fall in electrical potential across a cell's membrane, enabling the transmission of signals along neurons.

Threshold Level

The minimum level of stimulus intensity required to activate a neuron or to trigger a specific physiological response.

Repolarization Phase

Phase of the action potential in which the membrane potential moves from its maximum degree of depolarization toward the value of the resting membrane potential.

Voltage-gated Ion Channels

Proteins embedded in cell membranes that open or close in response to changes in membrane potential, crucial for the propagation of nerve impulses.