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Bo Weichel's headshot
Bo Weichel Deputy Finance Officer

Governmental accounting recognition question

Asked on Oct. 5, 2017

Hi all, doing some studying and struggling with this question. I think the answer is C, but I am not positive. Municipality issues general obligation serial bonds for construction of a fire station. Requires reporting recognition in: a. General Fund b. Capital Projects Fund and General Fund c. Capital Projects Fund and Gov-wide Statements d. General Fund and Gov-wide statement e. None of above

Answers

Wayne Spivak's headshot
Wayne Spivak President & CFO • October 5, 2017

The answer is: Capital Projects fund and the General Capital Assets and General Long-term Liabilities accounts

This according to:https://quizlet.com/93296572/gnp-chapter-2-flash-cards/

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Filed Under: Accounting
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