The City of Crestview has only one Debt Service Fund for all of its bond issues. Is

Question:

The City of Crestview has only one Debt Service Fund for all of its bond issues. Is the city in compliance with for governmental units? Explain.

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...