Author Question: The attorneys for the City of Hensley believe that a lawsuit filed against the city will be settled ... (Read 70 times)

Diane

  • Hero Member
  • *****
  • Posts: 576
The attorneys for the City of Hensley believe that a lawsuit filed against the city will be settled late in the next fiscal year.
 
  The attorneys believe that it is probable that the city will have to pay the claimants 30,000 to settle the lawsuit, but it is possible that it could be settled for as little as 15,000 or as much as 40,000 . How much should the city accrue as a liability in the General Fund for its current fiscal year?
   a. 0
   b. 15,000
   c. 30,000
   d. 40,000

Question 2

The Mount Pilot Airport Authority is governed by a seven-member board. Four of the board members are appointed by the town of Mount Pilot and the remaining three are appointed by the governing board of Griffith County.
 
  Neither the town nor the county share in any profits, nor are required to fund any deficits, of the Authority. The town, however, does approve the Authority's proposed budget. The county may make budgetary recommendations to the Authority, but they are not required to approve the proposed budget. The Authority should be reported as
  A. A jointly governed organization by both the town and the county.
  B. A joint venture by both the town and the county.
  C. Discrete component units of both the town and the county.
  D. A discretely presented component unit of the town.



macmac

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

a

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

For a complete list of videos, visit our video library