General obligation bonds issued to expand a city-owned gas utility and to be repaid from the utility's operations are not recorded as a liability in the GCA-GLTL g/l.

Question

Quizplus · Accepted Answer

General obligation bonds for a city-owned utility are typically recorded in the utility's enterprise fund, not in the General Capital Assets- General Long-Term Liabilities (GCA-GLTL) general ledger, as they are repaid from the utility's operations.

General Obligation Bonds Issued to Expand a City-Owned Gas Utility