Question: A city starts a solid waste landfill during the year 2025. When the landfill was opened, the city estimated that it would fill to capacity

A city starts a solid waste landfill during the year 2025. When the landfill was opened, the city estimated that it would fill to capacity within six years and that the cost to cover the facility would be $1.8 million, which will not be paid until the facility is eventually closed. At the end of 2025, the facility was 15% full, and at the end of 2026, the facility was 35% full. On government-wide financial statements, which of the following are the appropriate amounts to present in the financial statements for 2026? Multiple Choice O Expense will be $540,000 and liability will be $540,000. Expense will be $360,000 and liability will be $630,000 Expense will be $630,000 and liability will be $540,000 Both expense and liability will be zero. Multiple Choice Expense will be $540,000 and liability will be $540,000. Expense will be $360,000 and liability will be $630,000. Expense will be $630,000 and liability will be $540,000. Both expense and liability will be zero Expense will be $270,000 and liability will be $540,000
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