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Traverse County needs a new county government building that would cost $ 10 million. The politicians feel that voters will not approve a municipal bond issue to fund the building since it would in crease taxes. They opt to have a state bank issue $ 10 million of tax exempt securities to pay for the building construction. The county then will make yearly lease payments (of principal and interest) to repay the obligation. Unlike conventional municipal bonds, the lease payments are not binding obligations on the county and, therefore, require no voter approval. Required:1. Do you think the actions of the politicians and the bankers in this situation are ethical? 2. How do the tax exempt securities used to pay for the building compare in risk to a conventional municipal bond issued by Traverse County?
selected information from large corporations accounting records and financial statements for 2013 is as follows in
1.The following account balances were taken from the 2013 post closing trial balance of the Bowler Corporation:
jim inherits stock from his brother who died in march when the property had a 6.9 million fmv. this property is the
Using the following data for Sentinel Travel Service as well as the retained earnings statement, prepare a balance sheet as of August 31, 2014.
Create a corporate policy designed to minimize inventory shrinkage related to theft, stocking errors, shipping errors, etc., indicating how the policy will be enforced and procedures that may need to be implemented.
kragan clothing company manufactures its own designed and labeled sports attire and sells its products through catalog
the annual returns of three shares of stock during the last seven years are presented in the following tablerequired
Chicks Corporation had $1,100,000 in invested assets, sales of $1,210,000, income from operations amounting to $242,000, and a desired minimum rate of return of 15%.
one of the 2 questions i am having problem with. the height in feet of a football as a function of time in seconds is
the following items were taken from the financial statements of m. wright company. all dollars are in thousands.
lavage rapide is a canadian company that owns and operates a large automatic carwash facility near montreal. the
What were the company's two largest current liabilities at the end of its 2 most recent annual reporting periods?
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