Governmental reporting recognition question

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  • #1643683
    b27
    Participant

    Hi all, I have multiple choice question that I am struggling with. I think the answer is C but not sure. Any help? Thanks in advance!

    A City 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

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  • #1644103
    Yahmon
    Participant

    Yes the answer is C. The capital projects fund for the amount designated for construction of fire station. Long term debt in government wide statement

    AUD - 85
    BEC - 76
    FAR - 79
    REG - 84
     

     

     

    FAR 8/20/15 - Passed 77
    AUD 10/10/15 -
    BEC TBD
    REG TBD

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