In Its Government-Wide Statement of Net Position, a Government Reported

question 152

Multiple Choice

In its government-wide Statement of Net Position, a government reported assets of $165 million, including $70 million in capital assets net of depreciation) , and liabilities of $80 million, including long-term debt of $60 million, $50 million of which was issued to acquire capital assets. In addition, $30 million was restricted for debt service and other purposes. The government's Unrestricted Net Position would be reported as:

• A) $85 million.
• B) $65 million.
• C) $45 million.
• D) $35 million.

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Definitions:

Diagram

A simplified drawing showing the appearance, structure, or workings of something.

Market Supply Curve

A graphical representation showing the total quantity of a good that sellers are willing and able to sell at various prices.

Output

The total quantity of goods and services produced by an economy, company, or process over a specific period.

External Costs

Costs of economic activities that are not borne by the individuals or enterprises involved in the transaction but are instead imposed on third parties or society at large, such as pollution.