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Author Question: A city constructs a new building by issuing debt in the amount of 3 million. How should the city ... (Read 170 times)

kellyjaisingh

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on: Jul 5, 2018
A city constructs a new building by issuing debt in the amount of 3 million. How should the city report the debt proceeds in its Capital Projects Fund statement of revenues, expenditures, and changes in fund balance?
 
  a. as a revenue
  b. as an other financing source
  c. as a liability captioned general long-term obligations
  d. as a liability captioned due to the debt service fund

Question 2

Source documents provide the input for the accounting process.
 a. True
   b. False
   Indicate whether the statement is true or false


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frogdreck123456

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Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

True


kellyjaisingh

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Reply 2 on: Jul 5, 2018
Gracias!

softEldritch

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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