A governmental entity issued general obligation bonds with a face value of 10,000,000 and at a premium that totaled 100,000 for a governmental capital project.
The General Long-Term Liability accounts would report total liabilities as of the end of the year of issuance of
A. 0.
B. 100,000.
C. 10,000,000.
D. 10,100,000.
Question 2
Internal control is a process designed to provide absolute assurance regarding achieving objectives in which of the following?
a. efficiency and effectiveness of operations
b. reliability of reporting
c. compliance with applicable laws and regulations
d. none of the above
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