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NINJA Question –
Is the below question correct or is this a typo??? Shouldn’t the question read GASB not GAAP?
Which of the following is information required by GAAP that governments must disclose related to debt and lease obligations?
A.
Principal and interest requirements to maturity, presented separately, for the subsequent fiscal year and in 5-year increments thereafterIncorrect B.
Principal and interest requirements to maturity, presented separately, for each of the three subsequent fiscal years and in 5-year increments thereafterC.
Principal and interest requirements to maturity, presented separately, for each of the five subsequent fiscal years and in 5-year increments thereafterD.
Principal and interest requirements to maturity, presented separately, for each of the four subsequent fiscal years and in 5-year increments thereafterYou answered B. The correct answer is C.
GASB 1500.129 requires disclosure of principal and interest requirements to maturity, presented separately, for each of the five subsequent fiscal years and in 5-year increments thereafter.
AUD - NINJA in Training
BEC - 78
FAR - NINJA in Training
REG - 82BEC: 78REG: 82
AUD: February 20, 2017
FAR: January 2, 2017
For I can do everything through Christ, who gives me strength.
Philippians 4:13
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