The Liability for Utility Revenue Bonds Should Be Reported in Business-Type

question 28

True/False

The liability for utility revenue bonds should be reported in business-type activities on the government-wide statements, as well as in the enterprise fund.

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, expressed as a percentage change.

Excise Tax

A tax levied on specific goods or commodities sold within a country, such as alcohol and cigarettes.

Price Elasticity

A parameter for gauging the response of demand to price variations of a product.

Excise Tax

A tax levied on the sale or consumption of specific goods or services, such as alcohol, tobacco, and gasoline.