The Liability for General Obligation Bonds Should Be Recorded in The

question 73

Multiple Choice

The liability for general obligation bonds should be recorded in the:

• A) General Fund.
• B) Capital projects fund.
• C) Governmental activities journal.
• D) Debt service fund.

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Definitions:

Basic Truth

A fundamental, unquestionable fact or principle that serves as the foundation for a concept or belief system.

Economic Self-Interest

is a principle suggesting that individuals act in a way that maximizes their own benefits or gains, often driving economic decisions and actions.

Economic Behavior

The actions or decisions that individuals, households, businesses, and governments make in regard to the allocation of resources.