NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1996 (UNAUDITED)
ALLIANCE WORLD DOLLAR GOVERNMENT FUND II, INC.
NOTE A: SIGNIFICANT ACCOUNTING POLICIES
Alliance World Dollar Government Fund II, Inc. (the "Fund") was incorporated under the laws of the State of
Maryland on May 20, 1993 and is registered under the Investment Company Act of 1940, as a non-diversified,
closed-end management investment company. The following is a summary of significant accounting policies
followed by the Fund.
1. SECURITY VALUATION Portfolio securities traded on a national securities exchange are valued at the last
sales price on such exchange on the day of valuation or, if there was no sale on such day, the last bid price
quoted on such day. Listed securities not traded and securities traded in the over-the-counter market, including
listed debt securities whose primary market is believed to be over-the-counter, are valued at the mean between
the most recently quoted bid and asked price provided by the principal market makers. Publicly traded
Sovereign Debt Obligations are typically traded internationally on the over-the-counter market. Because of the
nature of the markets for Sovereign Debt Obligations, quotations from several sources will be obtained so that
the Fund's portfolio investments will not generally be priced by a single source. Readily marketable Sovereign
Debt Obligations may be valued on the basis of prices provided by a pricing service when such prices are
believed by the Adviser to reflect the fair value of such securities. Securities for which market quotations are not
readily available are valued in good faith, at fair value, using methods determined by the Board of Directors.
Securities which mature in 60 days or less are valued at amortized cost, which approximates fair value, unless this
method does not represent fair value.
2. ORGANIZATION EXPENSES Organization expenses of approximately $30,000 have been deferred and
are being amortized on a straight-line basis through July, 1998.