A municipality's issuance of general obligation serial bonds to finance the construction of a fire station requires
Question:
A municipality's issuance of general obligation serial bonds to finance the construction of a fire station requires accounting recognition in the
a. General Fund.
b. Capital Projects and General Funds
c. Capital Projects Fund and the General Capital Assets and General Long-Term Liabilities accounts.
d. General Fund and the General Capital Assets and General Long-Term Liabilities accounts.
e. none of the above.
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The correct answer is c Capital Projects Fund and the General Capital As...View the full answer
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Related Book For 
Governmental And Nonprofit Accounting Theory And Practice
ISBN: 9780132552721
9th Edition
Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,
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