When the Proceeds of Long Term Debt Are Reported in Governmental

question 56

Multiple Choice

When the proceeds of long term debt are reported in governmental fund financial statements

• A) They are reported only as an increase in liabilities in the funds.
• B) They are reported only as revenues in the funds.
• C) They are reported only as an other financing source-debt proceeds.
• D) They are reported only as an other financing use-debt proceeds.

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