Long Term Debt Serviced from Proprietary Funds Is Reported Only

question 82

True/False

Long term debt serviced from proprietary funds is reported only in the government-wide Statement of Net Position.

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Definitions:

Execution

The act of completing or carrying out a plan, order, or course of action, often related to legal documents or judicial sentences.

Irregular

Not following usual rules, patterns, or processes; deviating from what is normal or expected.

Lien

A legal claim or right against a property as security for payment of a debt or obligation.

Statutory

Related to, or created by, statutes, which are laws enacted by a legislative body.