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:

Cycling of Energy

The process by which energy is transformed and transferred among organisms and their environment.

Flow of Matter

The movement and cycling of chemical elements and compounds in different forms across various components of the Earth's ecosystem.

Life

A characteristic that distinguishes physical entities with biological processes, such as signaling and self-sustaining processes, from those that do not.

Dissolved Ozone

Ozone that is dissolved in water, used as a disinfectant for treating drinking water or in swimming pools to kill bacteria and other microorganisms.