A Local Government Sells Bonds Having a Face Value of $1,000,000

question 49

Multiple Choice

A local government sells bonds having a face value of $1,000,000 at par.The bond proceeds will be accounted for in a Capital Projects Fund.What account will be credited to offset the debit to cash?

• A)other financing sources
• B)citizens' equity
• C)fund balance
• D)bonds payable

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Definitions:

Predominant Form

The most abundant or common form of a chemical species under specific conditions.

L-Leucine

An essential amino acid used by the body in protein synthesis and various metabolic processes.

Aqueous Solution

An Aqueous Solution is any solution in which water (H2O) acts as the solvent.

pH

A scale used to specify the acidity or basicity of an aqueous solution, with values ranging from 0 to 14.