Just before the close of its fiscal year, a city government issues $2 million of bonds to finance the acquisition of capital assets. However, no part of the debt is repaid by year-end and no part of the debt is used to purchase capital assets
What adjusting entry is needed to prepare the city's government-wide financial statements from its fund-level financial statements?
a. No adjusting entry is needed
b. Available for capital assets 2,000,000
Bonds payable 2,000,000
c. Net investment in capital assets 2,000,000
Bonds payable 2,000,000
d. Other financing source - proceeds from bond issue 2,000,000
Bonds payable 2,000,000
d
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Ownership with an undivided interest with no right of survivorship is called:
a. joint tenancy b. severalty c. ownership in perpetuity d. tenants in common
Of the following, which is NOT an ambient condition that irritates shoppers according to Alain d'Astous?
a. Store is too small b. Store is not clean c. Too hot inside the store or the shopping center d. Music inside the store is too loud e. Bad smell in the store