Typically, proceeds from general obligation bonds will be recorded in the:
A) Debt service fund.
B) General obligation bond fund.
C) Permanent fund.
D) Capital projects fund.

Question

Quizplus · Accepted Answer

General obligation bonds are typically issued to finance capital projects such as building roads, schools, or other infrastructure projects. Therefore, the proceeds from these bonds are recorded in the Capital Projects Fund, which is used to account for financial resources to be used for the acquisition or construction of major capital facilities.

Typically, Proceeds from General Obligation Bonds Will Be Recorded in The