A Government Was Billed $3,000,000 During the Year on Its

question 29

Multiple Choice

A government was billed $3,000,000 during the year on its capital project, of which $2,700,000 was paid. The total contracted cost is $5,200,000. The government does not plan to pay the $300,000 balance currently owed to the contractor until the project has been completed and approved. The government should report Capital Projects Fund expenditures for the current year equal to

• A) $2,700,000.
• B) $3,000,000.
• C) $4,900,000.
• D) $5,200,000.

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Definitions:

Infographic

A visual representation of information or data, designed to make complex information easily understandable at a glance.

Infographic

A visual representation of information or data, combining text, images, and designs to present complex information clearly.

Effective Contrast

The strategic use of opposing elements, such as colors or ideas, to highlight differences and create impact in composition.

Colors

Refers to the property possessed by an object of producing different sensations on the eye as a result of the way it reflects or emits light.