Bond anticipation notes may be reported as a general long-term liability in which of the following circumstances?

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a. It has been determined that there is a favorable market for issuing the bonds.

b. The government intends to refinance the bond anticipation notes within the next fiscal period.

c. The bond anticipation notes have an original maturity of more than one year.

d. Bond anticipation notes, like other anticipation notes, must always be reported as a fund liability.

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Governmental And Nonprofit Accounting Theory And Practice

ISBN: 9780132552721

9th Edition

Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,

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Question Posted: Feb 24, 2024 05:00 AM

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Bond anticipation notes may be reported as a general long-term liability in which of the following circumstances?

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b The government intends to refinance the bond anticipation notes with...View the full answer

Governmental And Nonprofit Accounting Theory And Practice

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