In Its Statement of Net Assets, a Government Reported: Assets

question 118

Multiple Choice

In its Statement of Net Assets, a government reported: Assets of $90 million, including $30 million in capital assets (net) and liabilities of $50 million, including long-term debt of $15 million, all related to capital asset acquisition. The government also reported $5 million of net assets were restricted for payment of debt service. The government's unrestricted net assets would be reported as:

• A) $10 million
• B) $20 million
• C) $25 million
• D) $30 million

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Definitions:

Output Address

The unique identifier used in PLC programming and other computer systems to specify the location where data or a signal is sent from the system.

JMP Instruction

An assembly language instruction for 'jump', causing the program execution to continue from a different specified address.

Target

An objective or goal that is aimed for in various contexts, such as business, programming, or project management.

Normally Open Contact

A normally open contact is a type of electrical contact that is open, and consequently non-conductive, when in its default state, closing and allowing current flow when activated.