A State Constructs an Office Building

question 37

Multiple Choice

A state constructs an office building.The construction is financed with: (1) a transfer of $1 million from the General Fund; (2) a grant of $2 million from the federal government; (3) bond proceeds of $7 million;and (4) earnings of $100,000 from temporary investment of bond proceeds.All transactions occur in one year.
-Based on the preceding set of facts,what should be reported in the financial statements of the General Fund for the year?

• A)other financing uses of $1 million
• B)expenditures of $1 million
• C)other financing sources of $2 million and other financing uses of $1 million
• D)revenues of $2 million and other financing sources of $7 million

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Definitions:

Magistrate

A judicial officer with the authority to oversee minor civil disputes and criminal cases.

Initial Appearance

The first appearance of a defendant before a judge after arrest, where charges are read, and rights are explained.

Judge

An official appointed to decide cases in a court of law, ensuring the fair and impartial administration of justice.

Right to Counsel

The right to counsel is a defendant's right in criminal proceedings to be represented by an attorney, guaranteed by the Sixth Amendment of the U.S. Constitution.