In Its Government-Wide Statement of Net Assets, a Government Reported

question 1

Multiple Choice

In its government-wide Statement of Net Assets, a government reported assets of $150 million, including $50 million in capital assets (net of depreciation) and liabilities of $80 million, including long-term debt of $60 million, $40 million of which was issued to acquire capital assets. In addition, $25 million was restricted for debt service and other purposes. The government's unrestricted net assets would be reported as:

• A) $35 million
• B) $45 million
• C) $55 million
• D) $90 million

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Definitions:

Symmetry

A characteristic of shapes or patterns that exhibit proportionate similarity between parts, often mirrored around a central axis.

Coefficient Of Skewness

A statistical measure that quantifies the asymmetry of a distribution around its mean, indicating if the distribution leans to the left or right.

Skewness

A measure of the asymmetry of the probability distribution of a real-valued random variable, indicating how much the distribution leans to one side of the mean.

Positively Skewed

Describes a distribution of data where the tail on the right side of the histogram is longer or fatter than the left side, indicating that the majority of the data points are clustered to the left.