In What Circumstances Are Debt Service Funds Required to Be

question 11

Multiple Choice

In what circumstances are Debt Service Funds required to be used in governmental accounting?

• A)a legal requirement dictates that a Debt Service fund be established
• B)a government is currently accumulating resources for the payment of principal and interest on long-term debt in future years
• C)a government issues general obligation bonds
• D)both a and b
• E)both a and c

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Definitions:

Positive Energy

A concept referring to a beneficial force or vibe emanating from someone or something that positively affects the environment and people around them.

Feedback

Information provided regarding aspects of one’s performance or behavior, which is aimed at improving or reinforcing actions or behaviors.

Appreciation

Recognition and enjoyment of the good qualities of someone or something, often leading to expressions of gratitude or acknowledgment.

Positive Reinforcement

A method in behavior management that involves rewarding desired behaviors to encourage their recurrence.