True/False
A debt service fund is used to account for financial resources segregated for the purpose of making principal and interest payments on general long-term debt.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q52: The governmental funds category includes the General
Q53: Economic resources are cash or items expected
Q54: Which of the following would be reported
Q55: Expenditures are never recorded in governmental funds.
Q56: Explain the nature of the three major
Q58: Which of the following governmental funds must
Q59: Which of the following is not one
Q60: According to the guidance of GASB Concepts
Q61: Which of the following funds are proprietary
Q62: "The primary purpose of an accounting system