Governmental Accounting Chapter 6
questions with actual answers.
____ debt is a traditional part of governmental fiscal policy ANS -long term
interest on governmental debt is generally ___ _______ ANS -tax exempt
the tax-exempt feature allows governments to issue debt at ___ _____ ANS -low rates
most states have ____ limits on the amount of debt state and local governments can issue ANS -
staturtoy
______ liabilities are those that arise from activities of governmental funds that are not reported as fund
liabilities of a proprietary or fiduciary fund ANS -general long term
general long term liabilities are reported as liabilities in the _____ activities column of the government
wide statement of net position but are not reported as liabilities of governmental funds ANS -
governmental
types of long term liability sources include ___ and ___ activities ANS -financing and operating
bonds, notes, and capital leases are examples of ____ activities ANS -financing
claims and judgments, pensions, and environmental issues are examples of ____ activities ANS -
operating
proceeds of long term liabilities are recognized in the _____ fund ANS -governmental
questions with actual answers.
____ debt is a traditional part of governmental fiscal policy ANS -long term
interest on governmental debt is generally ___ _______ ANS -tax exempt
the tax-exempt feature allows governments to issue debt at ___ _____ ANS -low rates
most states have ____ limits on the amount of debt state and local governments can issue ANS -
staturtoy
______ liabilities are those that arise from activities of governmental funds that are not reported as fund
liabilities of a proprietary or fiduciary fund ANS -general long term
general long term liabilities are reported as liabilities in the _____ activities column of the government
wide statement of net position but are not reported as liabilities of governmental funds ANS -
governmental
types of long term liability sources include ___ and ___ activities ANS -financing and operating
bonds, notes, and capital leases are examples of ____ activities ANS -financing
claims and judgments, pensions, and environmental issues are examples of ____ activities ANS -
operating
proceeds of long term liabilities are recognized in the _____ fund ANS -governmental
