Question

Which of the following statements is true? Multiple Choice All of the given statements are true. Overlapping debt is a calculation of the difference between the amount of debt limit calculated as prescribed by law and the net amount of outstanding indebtedness subject to limitation. Debt margin is reported in the governmental activities column of the government-wide statements. Debt limit represents the total amount of indebtedness of specified kinds that is allowed by law to be outstanding at any one time.

Answer 1

Answer:Debt limit represents the total amount of indebtedness of specified kinds that is allowed by law to be outstanding at any one time.

Explanation: Debt limit is the overall maximum you believe you should owe based on your ability to meet repayment obligations. It should be lower than what lenders are willing to offer. All other options are not wholly true.