Business, 23.10.2021 21:30 blackbetty79
A state constructs an office building. The construction is financed with: (1) a transfer of $1 million from the General Fund; (2) a grant of $2 million from the federal government; (3) bond proceeds of $7 million; and (4) earnings of $100,000 from temporary investment of bond proceeds. All transactions occur in one year. Based on the preceding set of facts, how much should be reported as Other financing sources in the Capital Projects Fund?
A. $1,000,000
B. $3,000,000
C. $8,000,000
D. $10,000,000
Answers: 3
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A state constructs an office building. The construction is financed with: (1) a transfer of $1 milli...
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