The City of Spartan's Fiscal Year Ends on December 31

question 50

Multiple Choice

The City of Spartan's fiscal year ends on December 31.On October 1,2017,the city issued $1,000,000 of 6%,10-year term bonds with semi-annual interest payments due on March 1 and October 1 each year,beginning on April 1,2018.What amount of expense should the city recognize in its governmental activities journal for the years 2017 and 2018?

• A) $60,000 in 2017; $60,000 in 2018.
• B) $30,000 in 2017; $60,000 in 2018.
• C) $15,000 in 2017; $60,000 in 2018.
• D) $0 in 2017; $60,000 in 2018.

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Definitions:

Empowerment

The process of granting people more control, resources, or decision-making authority, typically aimed at improving motivation and outcomes.

Individual Level

Pertains to or concerns a single, distinct person as opposed to a group or organization.

Dyadic Level

Pertaining to interactions or relationships between two individuals, especially in contexts of leadership and followership.

Group Level

Refers to the collective characteristics or dynamics observed when individuals operate or interact as a group.