Interest Expenditures of a Governmental Fund Should Include

Multiple Choice

Interest expenditures of a governmental fund should include

A) Interest paid during the year, only.
B) Interest paid during the year plus any interest that matured but was not paid during the year.
C) Interest paid during the year, any interest that matured but was not paid during the year, and accrued interest on short-term debt recorded as a fund liability.
D) Interest paid during the year, any interest that matured but was not paid during the year, and accrued interest on all general long-term liabilities.