Use the Following Information to Answer Questions Sick Leave Vests

question 51

Multiple Choice

Use the following information to answer Questions Sick leave vests at the completion of the fifth year of employment, and unused sick leave is paid in cash upon termination or retirement. During the fiscal year ended 6/30/18, city employees who are paid from the general fund earned $2.8 million of sick leave, of which $1.0 was taken. Of the balance, the city estimates that $0.2 million will be taken in the next 60 days, $0.6 million will be taken in the next five years, $0.4 million will vest, and $0.6 million will never be taken.
-The amount of sick leave liability that should appear on the general fund balance sheet at 6/30/18 is

• A) $1.2 million.
• B) $0.4 million.
• C) $0.2 million.
• D) No liability should appear.

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Definitions:

Relevant Laws

Legal statutes and regulations that are applicable to a particular subject, field, or conduct.

Nuclear Family

A family unit consisting of two parents (mother and father) living with their children, considered the smallest and most basic social unit in many societies.

School-Age Children

Children in the age range typically required to attend school, generally from about 5 to 18 years old.

Preconventional Level

Refers to the first level of moral reasoning in Kohlberg's theory, characterized by understanding morality based on consequences and personal benefit.