Which of the Following Would Not Be an Adjustment for Long-Term

question 129

Multiple Choice

Which of the following would not be an adjustment for long-term debt when preparing government-wide financial statements?

• A) Changing "proceeds of bonds' to debt liabilities
• B) Changing expenditures for debt service principal to reduction of liabilities
• C) Amortizing bond premiums
• D) Recording the cash received from a debt issue

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Definitions:

Future Value

A specified future date's value of an asset or cash, which is equivalent to a certain amount of money today.

Model Airplanes

Miniature replicas of airplanes designed either for collecting or as a hobby to assemble, often used in the context of model building or flying.

Valued

Appreciated or considered of high worth, especially in a monetary or material sense.