In 2017,Sunrise City Signed a Contract in the Amount of $8,000,000

question 51

Multiple Choice

In 2017,Sunrise City signed a contract in the amount of $8,000,000 for the construction of a new city hall.Expenditures were $4,000,000 in 2017 and $2,050,000 in 2018,which included a change to the original construction design in the amount of $50,000.What amount should be added to capital assets in the governmental activities accounts in 2018?

• A) $ 0
• B) $ 50,000
• C) $ 2,050,000
• D) $ 2,000,000

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Definitions:

Ordinal Level

A measurement scale that categorizes data into ordered categories where the order of the values is significant, but the differences between the values are not quantitatively meaningful.

Ratio Level

A scale of measurement where there is a true zero point, allowing for the comparison of absolute magnitudes and the calculation of ratios.

Measurement Precision

The degree to which repeated measurements under unchanged conditions show the same results.

Nominal Levels

The simplest form of categorization of data without any order or rank among the categories, where numbers serve merely as labels.