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Governmental accounting recognition question

Bo Weichel's Profile

Hi all, doing some studying and struggling with this question. I think the answer is C, but I am not positive.

Municipality issues general obligation serial bonds for construction of a fire station. Requires reporting recognition in:
a. General Fund
b. Capital Projects Fund and General Fund
c. Capital Projects Fund and Gov-wide Statements
d. General Fund and Gov-wide statement
e. None of above

Answers

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

The answer is: Capital Projects fund and the General Capital Assets and General Long-term Liabilities accounts

This according to:https://quizlet.com/93296572/gnp-chapter-2-flash-cards/

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