Overlapping debt should be reported in which of the following ways?
A) It should be reported in the schedule of changes in long-term obligations.
B) It should be disclosed as a note to the financial statements.
C) It should be reported in a schedule in the statistical section of the annual report.
D) It should not be reported anywhere in the annual report.

Question

Quizplus · Accepted Answer

Overlapping debt is typically reported in a schedule in the statistical section of the annual report to provide information on the total debt burden of the government, including its share of debt from other overlapping jurisdictions.

Overlapping Debt Should Be Reported in Which of the Following