To Offset Engineering and Design Costs Incurred Prior to the Issuance

question 19

Multiple Choice

To offset engineering and design costs incurred prior to the issuance of a long-term bond issue,a capital projects fund borrowed the sum of $75,000 on a short-term basis from First National Bank.This transaction should be recorded in:

• A) The capital projects fund.
• B) The debt service fund.
• C) The special revenue fund.
• D) None of the above. Debt is not recorded in governmental funds.

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Definitions:

Psychological Traits

Enduring characteristics of individuals, manifested in their behaviors, thoughts, and emotions, that distinguish them from others.

Constructionists

Individuals or theorists who support the concept of social constructionism, which posits that many aspects of our reality and social norms are created by societal agreements rather than inherent truths.

Social Control Agencies

Organizations or institutions tasked with enforcing norms, laws, and regulations to maintain societal order and cohesion.

Sanctions

Measures taken by a country or international body to enforce international law, often involving trade restrictions or economic measures.