If a Governmental Entity Issued $3,000,000 in Bonds, Received a $500,000

question 33

Multiple Choice

If a governmental entity issued $3,000,000 in bonds, received a $500,000 federal capital grant, and transferred $750,000 to a Capital Projects Fund from the General Fund, the Capital Projects Fund financial statements should report Other Financing Sources (OFS) of

• A) $500,000.
• B) $750,000.
• C) $3,750,000.
• D) $4,250,000.

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Definitions:

Long-term Debt

Debt obligations that are due for repayment in more than one year, often used by businesses to finance operations or acquisitions.

Financial Ratios

Relationships determined from a firm’s financial information and used for comparison purposes.

Prior Time Periods

Refers to specific durations or intervals in the past used for analysis or comparison.

Peer Group

A set of individuals or entities that share similar characteristics or interests, often used as a benchmark or point of comparison.