Which of the following statements concerning the reporting of general long-term liabilities is true?

1.general long-term liabilities are reported both in the governmental funds and the ­government-wide financial statements
2.General long-term liabilities are only reported in the government-wide financial statements
3.General long-term liabilities are only reported in the governmental funds Advances from other funds that are being repaid over a 10-year period would be reported as a general long-term liability

Schuepfer inc. bases its selling and administrative expense budget on budgeted unit sales. the sales budget shows 1,800 units are planned to be sold in march. the variable selling and administrative expense is $4.30 per unit. the budgeted fixed selling and administrative expense is $35,620 per month, which includes depreciation of $2,700 per month. the remainder of the fixed selling and administrative expense represents current cash flows. the cash disbursements for selling and administrative expenses on the march selling and administrative expense budget should be: