Answer:
Benchmarking.
Explanation:
Benchmarking is the process by which a company compares it's processes with best practices of other companies with an aim of maintaining industry best standards in operating.
The four types of benchmarking are internal, competitive, functional and generic.
So companies by seeking technological knowledge and new processes from exemplary firms sometimes outside their own industries are engaging in benchmarking.
Answer:
Debit Cash $2.02 million; Credit Other financing sources
Explanation:
If Sugar City issued $2 million of bonds to fund the construction of a new city office building, and the bonds were sold at 101. The entries that should be made in the capital projects fund to record this event is: Debit Cash $2.02 million; Credit Other financing sources.
Sugar City practices governmental or public sector accounting which is a bit different from private sector accounting where the credit would have been treated differently.
Since this is a project and no encumbrance has been made against fund balance, and the cash is coming in from fresh issue of bond; the entry would be a debit to cash for the receipt and a credit to 'other financing sources'
There's an obvious answer... high risk; ergo high return.