The liability for special assessment bonds that carry a secondary pledge of a city's general credit should be reported in the balance sheet(s) of: Multiple Choice A debt service fund. A custodial fund. The governmental activities accounts. A custodial fund and disclosed in the notes to the financial statements.

The liability for special assessment bonds that carry a secondary pledge of a city's general credit should be reported in the balance sheet(s) of: Multiple Choice A debt service fund. A custodial fund. The governmental activities accounts. A custodial fund and disclosed in the notes to the financial statements.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

6
The liability for special assessment bonds that carry a secondary pledge of a city's general credit should be reported in the balance
sheet(s) of:
Multiple Choice
A debt service fund.
A custodial fund.
The governmental activities accounts.
A custodial fund and disclosed in the notes to the financial statements.

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