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A state constructs an office building. The construction is financed with: (1) a transfer of $2 million from the General Fund; (2) a grant of
A state constructs an office building. The construction is financed with: (1) a transfer of $2 million from the General Fund; (2) a grant of $2 million from the federal
government; (3) bond proceeds of $8 million; and (4) earnings of $100,000 from temporary investment of bond proceeds. All transactions occur in one year.
How much should be reported as Other financing sources in the Capital Projects Fund?
O $1.000 000
O $8 000 000
$3,000,000
O $10.000.000
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Cost Accounting Foundations and Evolutions
Authors: Michael R. Kinney, Cecily A. Raiborn
8th Edition
9781439044612, 1439044619, 978-1111626822
