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    Business
  3. Study Set
    Accounting for Governmental
  4. Exam
    Exam 6: Accounting for General Long-Term Liabilities and Debt Service
  5. Question
    The Purpose of a Sinking Fund Is to Set Aside
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The Purpose of a Sinking Fund Is to Set Aside

Question 14

Question 14

True/False

The purpose of a sinking fund is to set aside resources for a substantial debt payment due at maturity.

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