The Town of Conway Opened a Solid Waste Landfill in 2001

question 39

Multiple Choice

The Town of Conway opened a solid waste landfill in 2001 that is now filled to capacity. The city initially anticipated closure costs of $2 million. These costs were not expected to be incurred until the landfill is closed. What is the final journal entry to record these costs assuming the estimated $2 million closure costs were properly recorded and the landfill is accounted for in an enterprise fund? $\begin{array}{|l|l|r|r|}\hline \text { A) } & \text { Expense-Landfill Closure } & 2,000,000 & \\\hline & \text { Landfill Closure Liability } & & 2,000,000 \\\hline \text { B) } & \text { Landfill Closure Liability } & 2,000,000 & \\\hline & \text { Expense-Landfill Closure } & & 2,000,000 \\\hline \text { C) } & \text { Expense-Landfill Closure } & 2,000,000 & \\\hline & \text { Cash } & & 2,000,000 \\\hline \text { D) } & \text { Landfill Closure Liability } & 2,000,000 & \\\hline & \text { Cash } & & 2,000,000 \\\hline \text { E) } & \text { Expenditure- Landfill Closure } & 2,000,000 & \\\hline & \text { Cash } & & 2,000,000 \\\hline\end{array}$

• A)Option A
• B)Option B
• C)Option C
• D)Option D
• E)Option E

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Definitions:

Sexual Relations

Interactions between individuals involving sexual intimacy or activities.

Public Space

Areas in communities that are open and accessible to people, such as parks, streets, and public squares, meant for use and enjoyment by the public.

Normative

Relates to establishing, relating to, or deriving from a standard or norm, particularly in the context of ethics or societal norms.

Instrumental

Characterized by practicality and utility, often prioritizing efficiency and effectiveness towards achieving a goal.