Agovernment has the following liabilities at the end of the year:
general obligation bonds $1,500,000
compensated absences 120,000
salaries payable 40,000
what amount of liabilities should be reported in the governmental activities column of the
government-wide statement of net position?
a. $40,000
b. $160,000
c. $1,540,000
d. $1,660,000

option (D) $1,660,000

Explanation:

Data provided in the question:

General obligation bonds = $1,500,000

Compensated absences = $120,000

Salaries payable = $40,000

Now,

The amount of liabilities that should be reported in the governmental activities column of the  government-wide statement of net position

= General obligation bonds + Compensated absences + Salaries payable

= $1,500,000  + $120,000  + $40,000

= $1,660,000

Hence,

The answer is option (D) $1,660,000

answer; i believe that the correct answer is (d); the business benefits because owners can share responsibilities;