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The City of Philaburg arranged for a 10-year, $40 million loan to finance construction of a toll bridge over the Tradewater River. If the toll bridge is accounted for as an Enterprise Fund activity and a certain portion of the tolls collected is required to be set aside for maintaining the bridge, these resources should be accounted for in A. the Toll Bridge Enterprise Fund. B. a Debt Service Fund. C. the General Fund. D. a Capital Projects Fund. E. None of these answers is correct.
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The City of Philaburg arranged for a 10-year, $40 million loan to finance construction of a toll bri...
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