Where in the CAFR Would One Find the Long-Term Liability

question 87

Multiple Choice

Where in the CAFR would one find the long-term liability for revenue bonds (paid from the revenues of an enterprise fund) ?

• A) The proprietary funds Statement of Net Assets only.
• B) The government-wide Statement of Net Assets only.
• C) The government-wide Statement of Net Assets and the proprietary funds Statement of Net Assets.
• D) The government-wide Statement of Net Assets and the RSI Schedule of Bonds Payable.

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Definitions:

Support Department Costs

Costs associated with the departments that do not directly engage in manufacturing but support those who do, such as IT, HR, and maintenance departments.

Direct Labor

Refers to the work done by employees who directly contribute to the production of goods or services, such as assembling a product or providing a service.

Production Department Rates

Rates used in manufacturing to allocate costs to products or services, often based on the time spent in various production departments or the resources used.

Support Departments

Units within an organization that provide essential services or support to the core departments but do not directly generate revenue.