What Is the Purpose of a Debt Service Fund

What is the purpose of a Debt Service Fund?

A) to account for resources that are restricted or otherwise limited to pay the debt service on all debt of the government,including Enterprise fund debt and short-term debt used to finance General Fund operations
B) to account for resources that are restricted or otherwise limited to pay principal and interest on general long-term debt
C) to account for resources that are restricted or otherwise limited to pay the debt service on all long-term debt of the government,and also to show how much long-term debt is outstanding
D) to provide a means of reporting all outstanding long-term debt of the government in a single location