Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
![Which of the following statements is true regarding bond anticipation notes?
Multiple Choice
Bond anticipation notes can be reported as short-term liabilities in the governmental fund financial
statements.
Bond anticipation notes must be reported as long-term liabilities in the government-wide financial
statements.
Bond anticipation notes can be classified as either short-term liabilities or long-term liabilities in both
the governmental fund and government-wide financial statements depending upon specifications and
intent.
Bond anticipation notes are reported in the governmental fund financial statements as short-term
liabilities and in the government-wide financial statements as long-term liabilities.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6fd53c37-d1a8-4445-950b-e4a3393a7804%2F04eddc0b-b3e7-4489-9539-e8bf4617d0b7%2F7mrdwos_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which of the following statements is true regarding bond anticipation notes?
Multiple Choice
Bond anticipation notes can be reported as short-term liabilities in the governmental fund financial
statements.
Bond anticipation notes must be reported as long-term liabilities in the government-wide financial
statements.
Bond anticipation notes can be classified as either short-term liabilities or long-term liabilities in both
the governmental fund and government-wide financial statements depending upon specifications and
intent.
Bond anticipation notes are reported in the governmental fund financial statements as short-term
liabilities and in the government-wide financial statements as long-term liabilities.
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