What Does the Account,retainage Payable,represent in the Financial Statements of a Capital

question 8

Multiple Choice

What does the account,retainage payable,represent in the financial statements of a Capital Projects Fund?

• A)a long-term liability
• B)an amount owed to other governments because capital grant provisions were not met
• C)an amount held back by a government when paying a contractor
• D)an amount that can be reported in the General Fund,but not a Capital Projects Fund

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Definitions:

Hedge Derivatives

Hedge derivatives are financial instruments used to reduce or mitigate the risk of adverse price movements in an asset, typically involving futures, options, and swaps.

Cash Flows

The total amount of money being transferred into and out of a business, especially affecting its liquidity.

Foreign Currency

Currency used in a country that is different from the one in which a company operates, affecting financial transactions and reporting.