All of the Following Statements Regarding a Debt Service Fund

question 9

Multiple Choice

All of the following statements regarding a Debt Service Fund are true except

• A) A Debt Service Fund is rarely used to account for all of a governmental entity's general obligation bond repayments.
• B) Debt service on capital lease obligations is generally not accounted for in a Debt Service Fund.
• C) A government may have several Debt Service Funds.
• D) A government may use one Debt Service Fund to account for multiple general government debt issuances.

---

Definitions:

Soviet Union

The Soviet Union, officially known as the Union of Soviet Socialist Republics (USSR), was a socialist state in Eurasia that existed from 1922 to 1991.

World's First Satellite

Sputnik 1, launched by the Soviet Union in 1957, marking the beginning of space exploration by placing the first artificial object into orbit around Earth.

Medicare

A federal health insurance program in the United States for people aged 65 and over, as well as for some younger people with disabilities.

Established

Set up on a firm or permanent basis, often referring to institutions, organizations, or principles.