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:

Lowest 40%

Refers to the bottom forty percent of a distribution or set of data points, often discussed in the context of income or wealth distributions.

Z > 0.59

A condition specifying that the value of the Z-score in a statistical analysis is greater than 0.59, often related to standard deviation measurements in normal distribution.

Lowest 96%

Suggests the minimal value or percentile in a dataset or series of observations, positioned at 96%.

Z < 0.97

Describes the area under the normal distribution curve to the left of Z = 0.97, including all values less than this Z-score.