A project financed through revenue bonds is experiencing difficulty in that revenues are not sufficient to meet debt service payments. If, through legislative approval, the state pays interest and principal in a timely manner, the issue is MOST LIKELY:

E11-2 (multiple choice) identify the best answer for each of the following: which of the following statements about internal service fund liabilities is false? internal service funds may report both current and long-term liabilities. internal service funds may not issue bonds for financing purposes. internal service funds may report contingent liabilities. due to other funds would be reported as a current liability