If a City Has an Unpaid Lease Obligation at the Beginning

question 15

Multiple Choice

If a city has an unpaid lease obligation at the beginning of its fiscal year, the journal entry in the debt service fund to record the lease payment during that fiscal year will include: 

• A) A debit to Lease Obligations Payable.
• B) A credit to Expenditures-Principal of Lease Obligation.
• C) A debit to Expenditures-Principal of Lease Obligation.
• D) A debit to Interest Expense on Leases.

---

Definitions:

Lethargy

A state of sluggishness, drowsiness, or lack of energy, which can be a symptom of various conditions.

Neurotransmitters

Chemical substances that transmit signals across a synapse from one neuron to another in the brain and nervous system.

Serotonin

A neurotransmitter that contributes to feelings of well-being and happiness, also involved in regulating mood, appetite, and sleep among other physiological processes.

Norepinephrine

A neurotransmitter and hormone involved in the body's fight or flight response, playing a key role in attention and responding actions in the brain.