Assuming that the government is not obligated in any manner, the debt service transactions of a special assessment bond issue should be reported in a(n)
A) Debt service fund
B) Enterprise fund
C) Special revenue fund
D) Agency fund

Question

Quizplus · Accepted Answer

Since the government is not obligated, the debt service transactions should be reported in an agency fund, which is used to account for resources held by the government in a purely custodial capacity.

Assuming That the Government Is Not Obligated in Any Manner