SEQ CHAPTER \H \R 1Debt Service Expenditures on General Long-Term

question 41

Multiple Choice

SEQ CHAPTER \h \r 1Debt service expenditures on general long-term debt principal should be recognized in the period that the liability:

• A) accrues, if paid.
• B) accrues, whether or not paid.
• C) is legally due, if paid.
• D) is legally due, whether or not paid.