Acity acquired two vehicles in a particular (1) - id13958365, sunny3799

Question

Business: Acity acquired two vehicles in a particular (1) a sedan for $20,000 that was paid for through the general fund and (2) a sanitation truck for $125,000 that was paid for through the capital projects fund. how should the assets be reported in the city s fund-level financial statements?

sunny3799 · Accepted Answer

The correct answer is A.) begin funding a large peacetime military to counter foreign aggression.

Explanation:

After World War II, the US and Soviet Union emerged as global superpowers. Due to their differences in ideology and beliefs, there was significant tensions between these countries. The fear that the Soviet Union would spread their communist system to other countries worried the American federal government. The government worried of possible hostile invasions by the Soviet Union. This is why, despite World War II being over, the US continued to have a significant military presence.

Acity acquired two vehicles in a particular
(1) a sedan for $20,000 that was paid for through the general fund and
(2) a sanitation truck for $125,000 that was paid for through the capital projects fund. how should the assets be reported in the city's fund-level financial statements?

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Acity acquired two vehicles in a particular (1) a sedan for $20,000 that was paid for through the general fund and (2) a sanitation truck for $125,000 that was paid for through the capital projects fund. how should the assets be reported in the city's fund-level financial statements?