A government has $3,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 20X8 to finance construction of a general capital asset. Interest is payable semiannually on October 31 and April 30
What amount of debt service expenditures should the government report for the year ended December 31, 20X8?
a. $0
b. $30,000
c. $90,000
d. $180,000
A
You might also like to view...
With regard to the law concerning misrepresentation, which of the following is true?
A) The case law provides a remedy for a wildly exaggerated claim, such as "This is the best car ever built." B) A statement of opinion can be a one-sided mistake. C) A misrepresentation can be a false assertion of fact that induces (persuades) the party to contract, and need not be an assertion about a term of the contract. D) For fraudulent misrepresentation, the buyer could ask only for the equitable remedy of rescission. E) A buyer could not be awarded the equitable remedy of rescission if the seller honestly believed t
Usually management doesn't have a concern about a rumor mill
Indicate whether the statement is true or false