Which of the Following Statements Is correct with Respect to General

question 119

Multiple Choice

Which of the following statements is correct with respect to general long-term debt.

• A) Long term debt is recorded in the individual funds, but not the government-wide statements
• B) General long term debt included the noncurrent portion of capital lease arrangements, compensated absences and net pension obligation but not the principal portion of unmatured bonds.
• C) Required disclosures for the government-wide statements include the Schedule of Changes in Long-term Debt and Schedule of Debt Service Requirements are required disclosures in the government-wide statements.
• D) Since interest is accrued in the Debt Service Fund, no additional accrual is necessary when converting to the government-wide basis.