Which of the Following Is True Regarding the Recording of Long

question 96

Multiple Choice

Which of the following is true regarding the recording of long term debt in an enterprise fund?

• A) When revenue bonds are sold at par, Cash is debited and Bonds Payable is credited.
• B) The bonds would be reported in an enterprise fund and in the government-wide statements.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Increased Outputs

indicate a higher level of production or activities, often resulting from efficiency improvements or higher demand.

Constant Amount

A fixed value that does not change over time or under varying circumstances.

Socialism

Socialism is a political and economic theory advocating for collective or governmental ownership and administration of the means of production and distribution of goods.

Private Hands

Ownership or control by private individuals or corporations, as opposed to public or government ownership.