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Annette [7]
3 years ago
15

Pulling County has a December 31 fiscal year-end. In November, the County borrowed $8 million from a local bank, due in six mont

hs at 6% interest, to finance general government operations. The county pledges property tax revenues to secure the loan. At year-end, how should the bank note be displayed in the governmental fund financial statements? a. Nothing in the General Fund; Nothing in a Schedule of Changes in Long-Term Obligations. b. General Fund--$8 million in Other Financing Sources; Nothing in a Schedule of Changes in Long-Term Obligations. c. General Fund--$8 million in Other Financing Sources; $8 million in a Schedule of Changes in Long-Term Obligations. d. General Fund--$8 million in Notes Payable; Nothing in a Schedule of Changes in Long-Term Obligations.
Business
1 answer:
allochka39001 [22]3 years ago
7 0

Answer: the correct answer is d. General Fund--$8 million in Notes Payable; Nothing in a Schedule of Changes in Long-Term Obligations.

Explanation:

The money is borrowed to be paid in just 6 months that's why the general Fund is $ 8 million in "notes payable" and it is "nothing in long term obligations" because it is a "short term obligation "

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garri49 [273]

Complete Question:

What are the benefits of a long-term bond over a short-term bond?

Answer:

c. While long-term bonds have more risks associated with them, they have the potential to bring in higher returns for the initial investment.

Explanation:

A bond can be defined as a debt or fixed investment security, in which a bondholder (investor or creditor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time. The bond issuer are expected to return the principal (face value) at maturity with an agreed upon interest (coupon), which are paid at fixed intervals.

Bonds are generally debts, which may be floated in different ways with respect to the issuer of the bond and its type. Bonds are used by government and corporate institutions to borrow money with interest and they also have to pay for the face value of the bonds at maturity.

Bonds are classified into two (2) main categories and these are;

I. Long-term bonds: they usually spread over a long period of time and as such locking the money of an investor down while availing them a higher interest rate. Also, they are considered to be more riskier than shorter bonds.

II. Short-term bonds: this type of bond mature quickly and as such paying the investor's principal on time. It covers a period of one to five years maximum in duration.

Hence, the benefits of a long-term bond over a short-term bond is that, while long-term bonds have more risks associated with them, they have the potential to bring in higher returns for the initial investment.

5 0
3 years ago
The two cofounders of Impact Technology, a data-storage firm in Research Triangle Park, North Carolina, were feuding with each o
Sergio039 [100]

Answer:

Organizational Behavior Specialist

Explanation:

Based on the information provided within the question in regards to the situation, it seems that they should get an Organizational Behavior Specialist to work with the warring executives separately to solve the problem. These specialists analyze, assess, and provide advise to the company on how to solve a problem or improve performance and efficiency within the company.

If you have anymore questions feel free to ask at Brainly

7 0
3 years ago
Once mylie's total utility begins to decrease, does each additional singing of the song hurt more than the previous one or less
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When total utility starts to decrease, each additional song hurts MORE than the previous song.

6 0
3 years ago
Historically, a factory has been able to produce a very specialized nano-technology component with 35% reliability, i.e., 35% of
pochemuha

Answer:

Yes

Explanation:

From the given output

The  Probability of getting 13 or more passed

when the  reliability = 0.35. can be calculated as follows

=0.0258+0.0109+0.0039+.0012+0.0004 = 0.0422   ≈  4.2%

Since the probability is less than the  5% level we will therefore reject the Null hypothesis  

answer : YES

5 0
3 years ago
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weqwewe [10]
Before going to the cost and benefits, lets take a look first at the total of what Tim makes for the two jobs. In the first job, he is paid $7 per hour for 3 hours so that is $21 total for the first job. The second job offer is $10 per hour for two hours so that is $20 for the entire second job offer. If he is going to take the first job, he will have $1 more than the second job, however, he has to work an extra hour. However, if he takes the second job, he receives $1 less but has one hour more for himself. So if he were to take the second job, it will be more beneficial to him because he can get almost the same amount but doesn't need to work as hard
5 0
3 years ago
Read 2 more answers
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