5. The proceeds of a long-term bond issue were used by a county to acquire general fixed assets. The long-term liability is recorded a. only in the general long-term debt account group. b. only in the...

5. The proceeds of a long-term bond issue were used by a county to acquire general fixed assets. The long-term liability is recorded

a. only in the general long-term debt account group.

b. only in the general fund.

c. both in the general fund and in the general long-term debt account group.

d. in the appropriate governmental fund, depending on the nature of the asset involved.