Billing and Collection of Special Assessments and Payment of Debt

question 54

Multiple Choice

Billing and collection of special assessments and payment of debt principal and interest on special assessment debt for which the city is not obligated in any manner should be recorded in a(an) :

• A) Debt service fund.
• B) Special assessment fund.
• C) Capital projects fund.
• D) Custodial fund.

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Definitions:

Shares Outstanding

The total number of a company's shares that are currently owned by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s insiders.

Market Value

The current market rate for buying or selling an asset or service.

Cash Acquisition

A purchase of one company by another using cash as the form of payment rather than shares of stock or other considerations.