Which of the Following Debt Service Fund Accounts Would Not

question 39

Multiple Choice

Which of the following debt service fund accounts would not be closed at the end of each fiscal year?

• A) Estimated Revenues.
• B) Fund Balance.
• C) Revenues.
• D) Expenditures-Bond Interest.

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Definitions:

Property, Plant, and Equipment

Long-term assets vital to business operations and not easily converted into cash, encompassing real estate, factories, machinery, and more.

Buildings

Assets classified in accounting as long-term or fixed assets, representing structures owned by a company for business use.

Return On Assets

A profitability ratio that measures how efficiently a company uses its assets to generate profit, calculated as net income divided by total assets.

Asset Turnover

A ratio that measures the efficiency of a company's use of its assets in generating sales revenue.