General obligation bonds were issued to finance a particular governmental capital project fund. The resources received will affect which classification of fund balance until expended?

Question

Quizplus · Accepted Answer

General obligation bonds are issued for a specific capital project and the resources received are earmarked for that project. Therefore, the resources received are restricted and will affect the restricted fund balance until the project is completed or the funds are expended.

General Obligation Bonds Were Issued to Finance a Particular Governmental