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SEQ CHAPTER \H \R 1Debt Service Expenditures on General Long-Term

Question 41

Multiple Choice

SEQ CHAPTER \h \r 1Debt service expenditures on general long-term debt principal should be recognized in the period that the liability:

A) accrues, if paid.
B) accrues, whether or not paid.
C) is legally due, if paid.
D) is legally due, whether or not paid.

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