With Respect to Debt Service Funds, Which of the Following

question 3

Multiple Choice

With respect to Debt Service Funds, which of the following is true?

• A) Payments under capital lease obligations may be reported in debt service funds
• B) Debt service funds use accrual accounting
• C) Each separate long-term obligation must be accounted for in a separate debt service fund
• D) All of the above are true

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