Which of the following financing sources used to redeem (or refund) bonds would not result in a debit to an expenditure account in the debt service fund when the liability for the redeemed (or refunded) bonds is removed from the governmental activities accounts?
A) Proceeds of Refunding Bonds.
B) Assets previously accumulated in the debt service fund.
C) Interfund Transfer from the General Fund.
D) A grant received from the federal government.
Correct Answer:
Verified
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