Unmatured general government liabilities are recorded in the General Long-Term Liabilities accounts. Neither special assessment debt that

Question:

Unmatured general government liabilities are recorded in the General Long-Term Liabilities accounts. Neither special assessment debt that is expected to be serviced by special assessments, but on which the government is obligated in some manner, nor underfunded pension contributions seem to fit this definition—yet both are recorded in the GLTL accounts. Why are they treated this way?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

Question Posted: