The Following Items Were Included in the City of Wilson's $\quad$

question 123

Multiple Choice

The following items were included in the City of Wilson's General Fund expenditures for the year ended June 30, 2009: Personal computer for City Clerk $\quad$ $\quad$ $\$ 4,000$
Furniture for Controller's Office $\quad$ $\quad$ $\$ 10,000$ How much should be classified as capital assets in Wilson's General Fund balance sheet at June 30, 2009?

• A) $14,000
• B) $10,000
• C) $ 4,000
• D) $ - 0 -

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Definitions:

Transience

The state or condition of being temporary or short-lived.

Memory Sin

A term referring to the various kinds of inaccuracies or errors that human memory is prone to, such as transience, absent-mindedness, misattribution, and suggestibility, among others.

Decay

In the context of science, it often refers to the process by which organic substances break down into simpler forms of matter; in physics, it can refer to the decrease in number or function of particles over time.

Commission

A fee paid to an agent or employee for facilitating a sale or service.