Long Term Liabilities of an Enterprise Fund Are Reported in the Proprietary

question 15

True/False

Long term liabilities of an enterprise fund are reported in the proprietary fund statement and in government-wide statements.

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Definitions:

Par Value

The face value of a bond or stock, representing the amount the issuer will return to the holder at maturity.

Current Yield

The annual income (interest or dividends) divided by the current price of the security.

Market Price

The current price at which an asset or service can be bought or sold in the open market.

Zero-Coupon Bond

A type of debt security that does not pay interest (coupon) but is traded at a deep discount, rendering profit at maturity when the bond is redeemed for its full face value.