A Government Reported an Other Financing Source in the Amount

question 21

Multiple Choice

A government reported an other financing source in the amount of $900,000 related to the sale of land in its governmental funds Statement of Revenues,Expenditures,and Changes in Fund Balances.The land had a cost of $340,000.The amount that would be reported in the government-wide Statement of Activities would be:

• A) A gain of $1,240,000.
• B) A gain of $ 560,000.
• C) A gain of $ 900,000.
• D) A gain of $ 340,000.

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Definitions:

Red Triangle

The Red Triangle refers to a geographic area in the Pacific Ocean off the coast of Northern California, noted for a high number of great white shark attacks.

Plate Boundaries

The edges where two tectonic plates meet, characterized by seismic and volcanic activity due to plate interactions such as divergence, convergence, or transformation.

Volcano

a geological formation that occurs when magma from within the Earth's mantle or crust escapes to the surface, often resulting in eruptions.

Plate Boundaries

The edges where two tectonic plates meet, often associated with earthquakes and volcanic activity.