The long-term liability for special assessment bond issues, Ask an Expert

Accounting

The long-term liability for special assessment bond issues for which the city is not obligated in any manner should be recorded in a(an):

A)Agency fund only

B)Special assessment fund

C)Agency fund and private-purpose trust fund

D)None of the funds but should be disclosed in the notes to the financial statements.

choose one correct answer and show me why ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M963866

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