A Capital Project Is Completed,but $500,000 Remains in a Capital

question 15

Multiple Choice

A capital project is completed,but $500,000 remains in a capital projects fund.How should the government use the $500,000 remaining in the capital projects fund?

• A)the government should retain the remaining funds in the capital projects fund for a potential future capital project
• B)the government should consult provisions of relevant grant and bond issues,which may provide guidance regarding its use
• C)the first-in,first out basis
• D)residual amounts in a capital projects fund after completion of a project must be transferred to a debt service fund

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Definitions:

Ephemeral

Lasting for a very short time; transient.

Real Property

Land and any permanent structures attached to it, such as houses, buildings, and other fixtures, recognized as legal property.

Intellectual Property Rights

Legal rights granted to creators and inventors to protect their creations and inventions from unauthorized use by others.

Personal Property

Items of ownership that are movable and not permanently attached to or part of real estate; includes tangible items like furniture and intangible rights.