If a Government Has Debt Service Due No More Than

question 133

True/False

If a government has debt service due no more than one month after the end of a fiscal year and has the resources available, then it is permitted to accrue expenditures and a fund liability for the debt service.

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Definitions:

Filter

A device or process that removes impurities or separates particles from a liquid or gas.

Engulf

To surround or envelop completely, often used to describe how one cell can consume another.

Terrestrial Mollusks

Mollusks that live on land rather than in the sea or freshwater bodies; this group includes snails and slugs.

Gastropods

A class of mollusks typically having a one-piece coiled shell and including snails, slugs, and whelks, which are primarily marine, but also found in freshwater and terrestrial environments.