Multiple Choice
When bonds are sold at a premium for a capital project, the premium amount generally:
A) Increases the cash available to the capital projects fund.
B) Is transferred to the debt service fund.
C) Is applied against the principal balance by the fiduciary agent.
D) Is recorded in a fiduciary fund since it does not belong to the capital projects fund.
Correct Answer:
Verified
Correct Answer:
Verified
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