Why are long term liabilities in governmental accounting

 Assignment 3
Read Chapters 5 (Accounting for general capital assets) and Chapter 6 (Accounting for general long term liabilities) of your Accounting for Governmental and Nonprofit entities Book (16th or 17th edition) and write a 1,700 word essay that covers the following topics:

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-what are capital assets? Provide example
-What are capital projects funds? Provide example
-Why are long term liabilities in governmental accounting?
-What is the difference between debt limit and debt margin?
-what are different types of serial bonds in governmental accounting?
All essays must include an introduction and a conclusion. Turnitin similarity report must be under 10%. Do not copy paste text. Make sure to include at least 6 external references with in-text citations.  Use APA style.

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Do not email assignment. All assignments must be submitted through the turnit in link in Assignments.

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