Since long-term liabilities are not recorded in the governmental funds, payments of debt principal are recorded as expenditures, rather than reductions of outstanding liabilities.
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Q51: A Debt Service Fund is a fund
Q52: If taxes are levied specifically for payment
Q53: General Funds and special revenue funds typically
Q54: Permanent funds may spend both earnings and
Q55: Budgets are typically not recorded for Special
Q57: Budgets are typically recorded for Capital Projects
Q58: A gift of $1,000,000 to a city,
Q59: Permanent funds account for resources that are
Q60: Budgets are typically recorded for Debt Service
Q61: Which of the following statements is false?
A)
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