Question 1 Which of the following is properly reported as a liability of the General Fund?
Question 1 options:
Accounts payable
General obligation bonds payable
Tax anticipation notes payable
Both b and c are correct
Question 2 Debt service funds are used to record:
Question 2 options:
Neither principal nor interest payments of debt issues.
Only interest payments on debt issues.
Both principal and interest payments of debt issues.
Only principal payments of debt issues.
Question 3 When a vehicle is ordered by a government, the purchase order should be recorded in
the General Fund as a debit to
Question 3 options:
Encumbrances
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller anjis. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.48. You're not tied to anything after your purchase.