Using the Information Below,what Amount Should Be Accounted for in a Special

question 1

Multiple Choice

Using the information below,what amount should be accounted for in a special revenue fund or funds?

• A)$1,800,000.
• B)$2,100,000.
• C)$3,300,000.
• D)$5,350,000.

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Definitions:

Period Costs

Expenses that are not directly tied to product production and are expensed in the accounting period in which they are incurred.

Held For Sale

A classification for assets on the balance sheet intended to be sold within a short period, usually one year.

Discontinued Operations

Components of a business that have been sold or otherwise disposed of, and which are reported separately in the financial statements to give a clear view of ongoing operations.

Disposal Group

A set of assets and possibly liabilities that a company plans to dispose of in a single transaction or plan.