Which of the Following Should Not Be Reported on the Balance

question 27

Multiple Choice

Which of the following should not be reported on the balance sheet of the General Fund?

• A) Equipment.
• B) Vouchers payable.
• C) Tax anticipation notes payable.
• D) Due from federal government.

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Definitions:

Required Rate of Return

The least percentage of yearly return needed to entice entities or individuals to invest in a particular project or security.

Average IRR

The mean internal rate of return, calculating the average profitability of investments or projects over time.

Pre-Tax Cost

The expense incurred by an organization or individual before taxes have been deducted.

After-Tax Cost of Capital

The net cost of capital to a company after accounting for the tax benefits associated with debt financing.