Question: 1. How are general long-term liabilities distinguished from other long-term liabilities of the government? 2. How does the financial reporting of the general long-term liabilities

1. How are general long-term liabilities distinguished from other long-term liabilities of the government?

2. How does the financial reporting of the general long-term liabilities differ from the financial reporting of other long-term liabilities?

3. Although the most common type of general long-term liabilities is those arising from financing activities (e.g., bonds, notes, and lease agreements), general long-term liabilities can also be created through operating activities. Please describe examples of long-term liabilities other than those related to financing.

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