Given:
Assets and Liabilities of a Local Government
Bank balance #6,484,000
Cash # 900,000
General revenue balances #9,774,500
Accrued salaries #1,220,000
Investment in shares #1,480,000
Vehicles #7,620,000
A. #10,994,500
B. #17,394,500
C. #18,774,500
D. #18,874,500
Correct Answer:
Option A – Calculate the liabilities of the local government
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