Question

Where in the CAFR would one find the long-term liability for revenue bonds (paid from the revenues of an enterprise fund)?

A. The proprietary funds Statement of Net Position only
B. The government-wide Statement of Net Position only
C. The government-wide Statement of Net Position and the proprietary funds Statement of Net Position
D. The government-wide Statement of Net Position and the RSI Schedule of Bonds Payable

Answer 1

C. The government-wide Statement of Net Position and the proprietary funds Statement of Net Position

Step-by-step explanation:

CAFR ( Comprehensive Annual Financial reporting ) is provides accurate, summarised, and meaningful information. There are three sections of this reporting as below.

1. Introduction
2. Financial
3. Statistical

In government-wide statement, The capital is reported on the net basis on financial statements.