Multiple Choice
All of the following statements regarding a Debt Service Fund are true except
A) A Debt Service Fund is rarely used to account for all of a governmental entity's general obligation bond repayments.
B) Debt service on capital lease obligations is generally not accounted for in a Debt Service Fund.
C) A government may have several Debt Service Funds.
D) A government may use one Debt Service Fund to account for multiple general government debt issuances.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: A government paid $6,000,000 into an irrevocable
Q5: A government has $1,000,000 of 6%, 10-year
Q6: What measurement focus does a Debt Service
Q7: Revenues in a Debt Service Fund are
Q8: A Debt Service Fund received an annual
Q10: If General Fund cash is transferred to
Q11: Debt Service Fund expenditures would include all
Q12: If a special tax is levied to
Q13: Debt service expenditures on general long-term debt
Q14: Which of the following is not usually