Business, 18.06.2020 03:57, Cooldude4676

Which of the following is correct with respect to Debt Service Funds? 1. Debt service funds account for and report finencial resources that are restricted, committed or assigned to expenditure for principle and interest for al governmental long-term debt 2. Debt service funds must acerue interest on long term debt at yeer end. 3. Debt service funds account for end repon finencial resources that are restricted, commimed or assigned to expenditure for principle and interest for governmental debts except debt of proorietnry and fiduciary funds who account for their own interest end principle payments 4. Debt service tunds report the balance of govemmental debts escept debt of proprietery and fiduciery funds.

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Which of the following is correct with respect to Debt Service Funds? 1. Debt service funds account...