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MSB WTR10 AC 330 XM1
MSB GovNFP Unit 7
| Question | Answer |
|---|---|
| Required repayment to the federal government arising from rules that prohibit the government from investing bond proceeds at interest rates higher than that applicable to the entity's tax-exempt debt. | Arbitrage rebate |
| A significant, unexpected decline in the service utility of a capital asset. | Asset impairment |
| A lease that substantively transfers the benefits and risks of ownership of property to the lessee. | Capital leases |
| The amount paid or liability incurred by an accounting entity to acquire an asset and make it ready to render the services for which it was acquired. | Historical cost |
| Roads, bridges, curbs and gutters, streets, sidewalks, drainage systems, and lighting systems installed for the common good. | Infrastructure assets |
| A rental-type lease in which the risks and benefits of ownership are substantively retained by the lessor. | Operating leases |
| A compulsory levy made against certain properties to defray part or all of the cost of a specific improvement or service. | Special assessment |
| Short-term interest-bearing notes issued by a government in anticipation of bonds to be issued at a later date. | Bond anticipation notes |
| A fund to accumulate revenues from current taxes levied for major repairs and maintenance to capital assets of a nature not specified at the time the revenues are levied. | Capital improvements fund |
| The determination of the cost of construction of buildings and improvements by some agency of the government. | Force account construction |
Created by:
scott.sibbet
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