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Capital outlay expenditures would be least likely in a: A General Fund B Debt Service Fund...

Capital outlay expenditures would be least likely in a:

A General Fund

B Debt Service Fund

C Permanent Fund

D Capital Projects Fund

E Special Revenue Fund

Business   Accounting   
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Homework Answers

Answer #1

Option (B) 'Debt Service Fund' is the correct answer.

Capital outlay expenditures refers to the cost of acquisition of capital assets or any improvement in the existing capital assets or starting a new project which is probable of generating future cash flows.

Please note that Debt Service Fund is a reserve used for interest and principal payment on various types of debts. This reserve is established to service interest and principal payments on short and long term debts.

Good luck!

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