SEQ CHAPTER \H \R 1Which of the Following Expenditures Is

Multiple Choice

SEQ CHAPTER \h \r 1Which of the following expenditures is not capitalized as part of the cost of a capital asset acquired through a Capital Projects Fund?

A) The retained percentage to insure proper completion of the construction by the contractor.
B) Direct materials and labor that are used or consumed in the construction process.
C) Interest expenditures on bond anticipation notes.
D) Reimbursable overhead expenditures related to the construction project.