A Special Projects Fund Is a Fund Type That Is

question 47

True/False

A Special Projects Fund is a fund type that is used to account for revenues and other financing sources that are intended to service debt.

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Definitions:

Notes Receivable

Claims against others, recorded by an entity, that are evidenced by promissory notes, indicating the others’ promises to pay specified amounts at predetermined dates.

Current Liabilities

Current liabilities are a company's debts or obligations due within one year, appearing on the balance sheet and requiring the use of current assets.

Time to Maturity

The remaining lifespan of a debt instrument, indicating the length of time until the principal amount must be repaid.

Dishonored Notes Receivable

A note receivable that has not been paid by the maker at its maturity date, resulting in a failure to meet the financial obligation.