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Question: 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 would increase 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 nearly 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: Do you think the actions of the politicians and the bankers in this situation are ethical?
In terms of risk, how do the tax-exempt securities used to pay for the building compare to a conventional municipal bond issued by Traverse county?
Journalize the entries to correct the following errors: A receipt of $3,892 from Fees Earned was recorded and posted as a debit to Fees Earned
The contribution margin of the finished products is $6 each. Inventory carrying costs are $0.40 per unit per day. What is the change in the daily contribution margin if the change is made?
This study investigated the cognitive effects of stimulant medication in children with mental retardation and Attention-Deficit/Hyperactivity Disorder. This case study shows the data for the Delay of Gratification (DOG) task.
The following information was taken from the annual manufacturing overhead cost budget of Coen Company.
circuittown commenced a gift card program in january 2013 and sold 12900 of gift cards in january 19950 in february and
Quake Co. had the following transactions in the last two months of its fiscal year ended May 31.
juneau company issued 5-year 340000 face value bonds at 95 on january 1 2014. the stated interest rate on these bonds
the alphonse company allocates fixed overhead costs by machine hours and variable overhead costs by direct labor hours.
respond to the following independent issues concerning the capital stock of corporations in your initial post why are
Business Solutions' second quarter 2012 fixed budget performance report for its computer furniture operations follows. The $156,000 budgeted expenses include.
The net amount required to retire a bond before maturity (assuming no call premium and constant interest rates) is the:
DM Conversion Total cost
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