The City Is Installing Curbs and Sidewalks in a Subdivision

question 46

Multiple Choice

The city is installing curbs and sidewalks in a subdivision as part of a special assessment capital improvement project. The capital improvements are being financed by an $800,000 eight year, 10%, special assessment note payable. The note and interest are to be repaid from special assessments levied against the property owners of the subdivision. The total amount of special assessments of $840,000 was levied in the current year and will be collected evenly over eight years beginning next year. The government should report Capital Projects Fund revenues for the current year equal to

• A) $0.
• B) $105,000.
• C) $800,000.
• D) $840,000.

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Definitions:

Transtubercular Plane

An imaginary horizontal plane that passes through the iliac tubercles and the lumbar vertebrae, often used as a landmark in anatomical studies and medical procedures.

Umbilicus

The umbilicus, commonly known as the belly button, is the scar on the abdomen where the umbilical cord was attached in the womb, located in the umbilical region.

Inferior to Hips

Refers to a position or structure located below the level of the hips in the human body.

Waist

The part of the human body below the ribs and above the hips, often used as a measure of a person's build or for fitting clothes.