A government 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
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