Question

______________ arise from activities of governmental funds and that are not reported as fund liabilities of...

______________ arise from activities of governmental funds and that are not reported as fund liabilities of a proprietary or fiduciary fund

a. government wide liabilities

b. special

c. general long term liabilities

d. tax liabilities

A lease is classified as an operating lease unless one of these is met:

a. lessor communicates to lessee on intent, purpose, and feasibility of renewal

b. imminent cancellation of proposal

c. lease term is equal or greater than 75 % estimated econ life of leased property

d. Repurchasing of lease obligation

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