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Questions and Answers
Which of the following is true about the City of Chicago's total assets in 2012?
What was the total amount of long-term liabilities outstanding in 2011?
What was the total amount of deferred outflows in 2012?
Which of the following statements is true about the City of Chicago's capital assets?
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What was the total amount of other liabilities in 2012?
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True or false: The City of Chicago's total assets in 2012 were $20,385.2 million.
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True or false: The City of Chicago's total assets in 2011 were $19,381.1 million.
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True or false: The City of Chicago's total liabilities in 2012 were $16,696 million.
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True or false: The City of Chicago's total liabilities in 2011 were $18,109 million.
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True or false: The City of Chicago's deferred outflows in 2012 were $236 million.
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Study Notes
City of Chicago Financial Overview
- In 2012, total assets for the City of Chicago were valued at $20,385.2 million.
- 2011 saw total assets at $19,381.1 million, indicating growth over the year.
- Long-term liabilities in 2011 amounted to $18,109 million.
- Capital assets represent a significant portion of Chicago's resources, though specifics are required for detailed insights.
- In 2012, total deferred outflows stood at $236 million.
- Other liabilities in 2012 reached an undisclosed amount but should be considered alongside total and long-term liabilities.
- Total liabilities for the City in 2012 were reported at $16,696 million, reflecting a decrease from the previous year’s liabilities.
- Deferred outflows in 2012 confirm the city's ongoing financial planning and obligations.
- Understanding these figures helps gauge the financial health and asset management of the City of Chicago over these years.
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Description
Quiz: City of Chicago, Illinois Management's Discussion and Analysis Test your knowledge of the City of Chicago's financial position with this quiz on the Summary Statement of Net Position. Explore the city's business-type and governmental activities, including assets, capital assets, and more. Put your understanding to the test and see how well you know the financial landscape of Chicago.
