Fund Balances of Debt Service Funds Are Classified Among the Categories

question 43

True/False

Fund balances of debt service funds are classified among the categories identified in GASB Statement 54 as Restricted and Unrestricted.

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Definitions:

Ethical Relativism

The theory that there are no universal moral principles, but rather that morality varies by culture or individual preference.

Human Values

Fundamental beliefs that guide or motivate attitudes and actions, encompassing importance of ethics and character in individuals and society.

Objective Standards

Criteria independent of the parties' personal intentions or beliefs, used to assess behavior or performance.

Rational Ethics

A branch of ethics focused on determining right and wrong actions based on reasoning and logical analysis rather than on emotions or social customs.