BC County opens a solid waste landfill that it expects to fill to capacity gradually over a 40-year period. At the end of the first year, it is 6 percent filled. At the end of the second year, it is 15 percent filled. Currently, the cost of closure and postclosure is estimated at $1 million. None of this amount will be paid until the landfill has reached 90 percent of its capacity. Required:
What is true for the Year 2 government-wide financial statement?

Expense will be $90,000 and liability will be $150,000

Explanation:

Year 2 liability is :

$1,000,000 * 15% = $150,000

Year 1 liability is :

$1,000,000 * 6% = $60,000

Expense for year 2 :

Year 2 liability - Year 1 liability

$150,000 - $60,000 = $90,000

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

answer; according to the ( irs );