Debt Service Funds Use the Same Measurement Focus and Basis

question 135

Multiple Choice

Debt service funds use the same measurement focus and basis of accounting as:

• A) Internal service funds.
• B) Special revenue funds.
• C) Both a and b.
• D) None of the above.

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Definitions:

Uninsurable Risks

refers to risks that insurance companies are unwilling to cover due to their unpredictable or potentially catastrophic nature.

Entrepreneur

A person who organizes, operates, and assumes the risk for a business venture, often introducing new products, services, or business processes.

Short-Term Loans

Financial borrowing intended to be repaid within a short period, usually less than a year.