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    Essentials of Accounting Study Set 3
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    Exam 5: Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent
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    If Taxes Are Levied Specifically for Payment of Interest and Principal
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If Taxes Are Levied Specifically for Payment of Interest and Principal

Question 109

Question 109

True/False

If taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are recognized as revenues of the debt service fund.

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