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Business, 06.04.2021 03:30 livj946

General obligation bonds issued for the benefit of enterprise funds, with the intent of paying bond principal and interest from revenues of the enterprise fund, should be reported as a liability in the balance sheet of the Enterprise fund. Governmental activities. Both the enterprise fund and the governmental activities accounts. Enterprise fund and a disclosure is added to the financial statement notes explaining the contingent liability of the general government if enterprise funds are insufficient to pay principal and interest.

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