In Its Government-Wide Statement of Net Assets, a Government Reported

Multiple Choice

In its government-wide Statement of Net Assets, a government reported assets of $150 million, including $50 million in capital assets (net of depreciation) and liabilities of $80 million, including long-term debt of $60 million, $40 million of which was issued to acquire capital assets. In addition, $25 million was restricted for debt service and other purposes. The government's unrestricted net assets would be reported as:

A) $35 million
B) $45 million
C) $55 million
D) $90 million