The liability for general obligation long-term debt is reported in the:
A) Debt Service Fund.
B) Capital Projects Fund.
C) Enterprise Fund.
D) none of these.

Question

Quizplus · Accepted Answer

General obligation long-term debt is not reported in the Debt Service Fund, Capital Projects Fund, or Enterprise Fund. Instead, it is reported in the government-wide financial statements, specifically within the governmental activities column. These funds focus on current financial resources and do not report long-term debt as a liability.

The Liability for General Obligation Long-Term Debt Is Reported in The