jayyee3145 jayyee3145

19-02-2020
Business

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what is the purpose of a debt service fund? Does a debt service fund require budgeting? why or why not?

Respuesta :

Adematae Adematae

20-02-2020

Answer:

The purpose of a debt service fund is to pay back long term debt issued to finance a specific government project alongside with the principal and interest accrued to it.

Part B: Yes

Explanation:

A debt service fund require budgeting because with budgeting, payments of debts are easily managed and it also ensures fund availability as at the moment it is needed.

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