Long-term debt that is to be paid with tax revenues is not reported both in the government-wide statements and in the governmental fund statements

Name: Long-term debt that is to be paid with tax revenues is not reported both in the government-wide statements and in the governmental fund statements
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Long-term debt that is to be paid with tax revenues is not reported in the governmental fund statements because it is not considered to be a liability of the fund.

Long-Term Debt That Is to Be Paid with Tax Revenues