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    Government and Not for Profit Accounting Study Set 2
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    Exam 6: Accounting for Capital Projects and Debt Service
  5. Question
    Debt Service Funds Are Maintained to Account for Resources Accumulated
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Debt Service Funds Are Maintained to Account for Resources Accumulated

Question 41

Question 41

True/False

Debt service funds are maintained to account for resources accumulated to pay interest and principal on general long-term debt-that is, long-term debt associated primarily with governmental activities.

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