Author Question: Issuance of a short-term bond anticipation noteto provide temporary financing for a general ... (Read 83 times)

cherise1989 · **on:** Jul 5, 2018

Issuance of a short-term bond anticipation noteto provide temporary financing for a general government capital projectthat does not meet the requirements for treatment as long-term debt:

A. does not increase fund balance of the Capital Projects Fund (CPF).
B. increases fund balance of the CPF because they are issued in anticipation of issuing long-term debt.
C. would affect the General Long-Term Liabilities (GLTL) list.
D. would normally be repaid from a Debt Service Fund (DSF).

Question 2

Which of the following items is NOT included in reconciling the governmental funds operating statement information to the changes in net assets in the government-wide statement?

a. Depreciation
b. Amortization of bond premiums
c. Expenditures for retirement of general long-term debt principal
d. Increase in salaries payable