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.

---

Definitions:

Lower-Of-Cost

An accounting method that values inventory at the lower of its historical cost or current market value.

Market Basis

Market Basis refers to the approach of valuing assets or securities at their current market prices instead of their cost prices or intrinsic values.

Inventory Valuation

The process of determining the monetary amount associated with the inventory at hand, often using methods such as FIFO, LIFO, or weighted average cost.

Market Decline

A decrease in stock prices or the value of a particular market segment, often signaling a period of investor pessimism or economic downturn.