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The City of Bluefield had general obligation debt outstanding in the amount of $64,000,000 and had available resources of $12,000,000 to pay that debt. The assessed valuation of property in the city is $800,000,000. The state applies a 10 percent debt limit, based on assessed valuation. what would be the debt margin to be reported in the City's statistical section of the CAFR ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M981749

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