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December 15, 2005. Additional data are as follows: Under the
completed contract method, what amount should Mitchell
recognize as gross profit for 2005?
Question 14
Which of the following would be reported as program revenues
on a local government's government-wide statement of activities?
Question 15
Alinas County manages an endowment of $500,000, the earnings
from which are required to be used to maintain the walking trails
in the county parks. During the year, the endowment received
$20,000 in investment earnings, $3,000 of which was related to
earnings from the previous year which were not received 80 days
after the fiscal year end. At the end of the year, the market value
of the endowment was $510,000. In its fund-based financial
statements, how much should the County recognize in
conjunction with this endowment?
Question 16
A state or local government should not have multiple funds in
which of the following fund categories?
Question 17
The governmental fund measurement focus is on the
determination of
Question 18
A not-for-profit voluntary health and welfare organization
received a $500,000 permanent endowment. The donor stipulated
that the income must be used for a mental health program. The