During a time of high unemployment a state may borrow from the federal government to cover deficiencies in it unemployment insurance fund. The state issues a special assessments to employers in order to raise funds to pay back the federal government

should special assessments amount collected and the the amount owed to the federal government be reported in the government-wide financial statements?

 

Answer rating: 100% (QA)

Reporting Special Assessments and Federal Loans in GovernmentWide Financial Statements When a state issues special assessments to employers to cover d... View the full answer