ACCT266 Public Admin Fund Accounting CH5

ACCT266 Public Admin Fund Accounting CH5 - Question 1 1 out...

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Question 1 1 out of 1 points Which of the following is true with respect to special assessment levies? Answer Selected Answer: If the government is not liable for the special assessment debt directly or through guarantee, the special assessment is accounted for in an agency fund. Correct Answer: If the government is not liable for the special assessment debt directly or through guarantee, the special assessment is accounted for in an agency fund. Question 2 1 out of 1 points With respect to Debt Service Funds, which of the following is true? Answer Selected Answer: Debt service funds may be required to service capital lease obligation Correct Answer: Debt service funds may be required to service capital lease obligation Question 3 1 out of 1 points If taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are: Answer Selected Answer: Included as revenues of the debt service fund. Correct Answer: Included as revenues of the debt service fund.
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Question 4 1 out of 1 points Governmental funds, other than the General Fund, are considered major if: I. Total Assets, Liabilities, Revenues, or Expenditures of
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ACCT266 Public Admin Fund Accounting CH5 - Question 1 1 out...

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