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What Does the Account,retainage Payable,represent in the Financial Statements of a Capital

Question 10

Multiple Choice

What does the account,retainage payable,represent in the financial statements of a Capital Projects Fund?


A) a long-term liability
B) an amount owed to other governments because capital grant provisions were not met
C) an amount held back by a government when paying a contractor
D) an amount that can be reported in the General Fund,but not a Capital Projects Fund

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