I need solutions to 5-10 need explanation to the answers please.

I. With respeet to Debt Service Funds, which of the following is net eorrect? funds. Typically, resources are provided through transfers from the General or B) There are two types of debt service expenditures: interest and principa C) In most cases, interest and principal payments are no D) Encumbrances are recorded to reflect principal payments that are expected to corne recorded until payment is due. due within the current accounting period 2. Which of the following statements is false? 4, Debt service funds are required to report accrued interest payable as current liabilities B) All of the governmental funds use the modified accrual basis of accounting C) General fixed assets that are acquired with governmental fund resources are recorded as expenditures in the governmental funds but are displayed as capital assets in the governmental-wide financial statements D) Permanent funds reflect resources that are legally restricted so that principal may not be expended and earnings are used to benefit the government or its citizenry 3. With respect to Debt Service Funds, which of the following is true? Payments under capital lease obligations may be reported in debt service funds B) Debt service funds use accrual accounting C) Each separate long-term obligation must be accounted for in a separate debt service D) All of the above are true fund 4. Which of the following statements regarding serial bonds is false? A) The principal on serial bonds is paid over the term of the bonds. B) The assets of a debt service fund may include Cash with Fiscal Agent O The principal repayment on an annuity serial bonds decreases each year as the outstanding balance decreases D) If the first payment is delayed for more than a year with equal payments thereafter the bonds are deferred serial bonds Use the following to answer the next five questions: general obligation bonds at On October 1, 2013, the City of Mizner issued $3.500.000 in49 I for the purpose of constructing an addition to City Hall. The premium was transferred to a debt service fund. A total of $3,475,000 was used to construct the addition, which was completed prior to June 30, 2014. The remaining funds were transferred to the debt service fund. The bonds were dated October 1,2013, and paid interest on April 1 and October 1. The first of 20 annual principal payments of $175,000 is due October 1, 2014. The fiscal year for Mizner is July 1- June 30 I. With respeet to Debt Service Funds, which of the following is net eorrect? funds. Typically, resources are provided through transfers from the General or B) There are two types of debt service expenditures: interest and principa C) In most cases, interest and principal payments are no D) Encumbrances are recorded to reflect principal payments that are expected to corne recorded until payment is due. due within the current accounting period 2. Which of the following statements is false? 4, Debt service funds are required to report accrued interest payable as current liabilities B) All of the governmental funds use the modified accrual basis of accounting C) General fixed assets that are acquired with governmental fund resources are recorded as expenditures in the governmental funds but are displayed as capital assets in the governmental-wide financial statements D) Permanent funds reflect resources that are legally restricted so that principal may not be expended and earnings are used to benefit the government or its citizenry 3. With respect to Debt Service Funds, which of the following is true? Payments under capital lease obligations may be reported in debt service funds B) Debt service funds use accrual accounting C) Each separate long-term obligation must be accounted for in a separate debt service D) All of the above are true fund 4. Which of the following statements regarding serial bonds is false? A) The principal on serial bonds is paid over the term of the bonds. B) The assets of a debt service fund may include Cash with Fiscal Agent O The principal repayment on an annuity serial bonds decreases each year as the outstanding balance decreases D) If the first payment is delayed for more than a year with equal payments thereafter the bonds are deferred serial bonds Use the following to answer the next five questions: general obligation bonds at On October 1, 2013, the City of Mizner issued $3.500.000 in49 I for the purpose of constructing an addition to City Hall. The premium was transferred to a debt service fund. A total of $3,475,000 was used to construct the addition, which was completed prior to June 30, 2014. The remaining funds were transferred to the debt service fund. The bonds were dated October 1,2013, and paid interest on April 1 and October 1. The first of 20 annual principal payments of $175,000 is due October 1, 2014. The fiscal year for Mizner is July 1- June 30