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QUESTION 43 Tuston Township issued the following bonds during the year ended June 30, Year 1: Bonds issued for the garbage collection enterprise fund that
QUESTION 43
Tuston Township issued the following bonds during the year ended June 30, Year 1:
Bonds issued for the garbage collection enterprise fund that will service the debt $700,000
Revenue bonds to be repaid from admission fees collected by the Township zoo enterprise fund 500,000
What amount of these bonds should be accounted for in Tuston's government-wide financial statement as a liability resulting from governmental activities?
a. $1,200,000
b. $700,000
c. $500,000
d. $0
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