On December 1, $125,000 Was Deposited with a Fiscal Agent

question 42

Multiple Choice

On December 1, $125,000 was deposited with a fiscal agent for payment on bonds payable in the amount of $90,000 and interest payable for $35,000 due maturing on the last day of December.This will require a debit of

• A)​$125,000 to the Expenditure account in the General Fund.
• B)​$35,000 to the Expenditure account in the General Fund.
• C)​$125,000 to the Other Financing Uses--Transfers Out account in the General Fund.
• D)​$35,000 to the Expenditure account in the Debt Service Fund.

---

Definitions:

Opportunity

A set of circumstances that makes it possible to do something, especially something that might lead to success or advancement.

Business Plan

A document that outlines a company's strategic direction, goals, and the methods it will use to achieve those goals.

Windows of Opportunity

Specific periods during which the conditions are right to pursue a particular action or make a change to gain a strategic advantage.

Product Life Cycle

The progression of a product through stages of introduction, growth, maturity, and decline in the market.