Which of the Following Activities Would Most Appropriately Be Recorded

question 46

Multiple Choice

Which of the following activities would most appropriately be recorded by an agency fund?

• A)Assets held for employees' federal and state withholding taxes.
• B)Deposits held for customers of a city-owned electric utility.
• C)Assets held for special assessment bondholders when the city is secondarily liable for the bonds.
• D)Assets held for investment,the earnings from which are used for maintenance of the City Cemetery.

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Definitions:

Budget Line

A graphical representation of all the possible combinations of two goods or services that can be purchased with a given budget, considering their prices remain constant.

Money Income

The total earning received by an individual or household including wages, salaries, and other forms of income, before any deductions.

Marginal Utility

The extra pleasure or advantage gained from consuming an additional unit of a product or service.

Total Utility

The complete satisfaction or pleasure a consumer derives from consuming a particular quantity of goods or services.