_____ Long-term liabilities usually would be reported in the GCA-GLTL g/l if the proceeds from the issuance of the debt were initially recorded in the

Question

_____	Long-term liabilities usually would be reported in the GCA-GLTL g/l if the proceeds from the issuance of the debt were initially recorded in the

Quizplus · Accepted Answer

Long-term liabilities are typically reported in the Governmental Activities - General Long-Term Liabilities (GCA-GLTL) general ledger when the proceeds from the issuance of the debt were initially recorded in the General Fund. This is because the General Fund is part of the governmental activities, and long-term liabilities associated with governmental activities are reported in the GCA-GLTL.

_____ Long-Term Liabilities Usually Would Be Reported in the GCA-GLTL G/l