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Which of the following is not one of GASB's financial reporting objectives? a. Reporting on budgetary compliance b. Ensuring that budgeted revenues are equal to, or exceed, budgeted expenses c. Providing information on the extent to which interperiod equity is achieved d. Providing information on service efforts and accomplishments In fund accounting what would be the proper credit entry where the government spends $215,000 and borrows from the bank for a new telephone system? The useful life is expected to be seven years and the payoff of the loan is expected to take five years. a. Notes payable b. Proceeds from borrowing (a fund balance account) c. Proceeds from borrowing (a revenue account) d. Proceeds from borrowing (a libility account)