Government Accounting
COURSES > ACCOUNTING FOR GOVERNMENTAL AND NONPROFIT ENTITIES:, 15/E- WILSON > CONTROL PANEL > POOL MANAGER > POOL CANVAS
Pool Canvas
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Name Chapter 06 Accounting for General Long-Term Liabilities and Debt Service Description Questions which Blackboard's assessment component is incapable of supporting are not included in the export. Instructions Add Question Here
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True/False Question Both general capital assets acquired or constructed from the proceeds of special assessment debt, and the related long-term liability are recorded in the governmental fund. Answer True False Correct Feedback Incorrect Feedback GASB requires general capital assets and the related long-term liabilities to be reported in the governmentwide statements, not in governmental funds. GASB requires general capital assets and the related long-term liabilities to be reported in the governmentwide statements, not in governmental funds. Add Question Here
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True/False Question Debt backed by both special assessments and the full faith and credit of a government should be reported in the government-wide statement of net assets in the Business-type Activities column. Answer True False Correct Feedback Incorrect Feedback GASB standards require that the obligation for special assessment debt be recorded in the governmental activities accounts if the government is obligated in any manner for the debt, even though primary responsibility for the debt rests with taxpayers in the special benefit district. GASB standards require that the obligation for special assessment debt be recorded in the governmental activities accounts if the government is obligated in any manner for the debt, even
Pool Canvas
Add, modify, and remove questions. Select a question type from the Add Question drop-down list and click Go to add questions. Use Creation Settings to establish which default options, such as feedback and images, are available for question creation. Add !"#$%&#'()*+%,' Creation Settings
Name Chapter 06 Accounting for General Long-Term Liabilities and Debt Service Description Questions which Blackboard's assessment component is incapable of supporting are not included in the export. Instructions Add Question Here
-"'.$%+/(0
True/False Question Both general capital assets acquired or constructed from the proceeds of special assessment debt, and the related long-term liability are recorded in the governmental fund. Answer True False Correct Feedback Incorrect Feedback GASB requires general capital assets and the related long-term liabilities to be reported in the governmentwide statements, not in governmental funds. GASB requires general capital assets and the related long-term liabilities to be reported in the governmentwide statements, not in governmental funds. Add Question Here
-"'.$%+/(1
True/False Question Debt backed by both special assessments and the full faith and credit of a government should be reported in the government-wide statement of net assets in the Business-type Activities column. Answer True False Correct Feedback Incorrect Feedback GASB standards require that the obligation for special assessment debt be recorded in the governmental activities accounts if the government is obligated in any manner for the debt, even though primary responsibility for the debt rests with taxpayers in the special benefit district. GASB standards require that the obligation for special assessment debt be recorded in the governmental activities accounts if the government is obligated in any manner for the debt, even