In Its Statement of Net Position, a Government Reported

question 132

Multiple Choice

In its Statement of Net Position, a government reported:
assets of $110 million, including $30 million in capital assets net) , and
liabilities of $40 million, including long-term debt of $15 million, all related to capital asset acquisition.
The government also reported $10 million of net assets were restricted for payment of debt service. The government's Unrestricted Net Position would be reported as:

• A) $45 million.
• B) $25 million.
• C) $30 million.
• D) $35 million.

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Definitions:

Heroin

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Hallucinogen Ingestion

The act of consuming substances that induce hallucinations, altering one's perceptions, thoughts, and emotions.

Schizophrenic Episode

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