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

Question:

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.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

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,

See More Books

Question Posted: Feb 24, 2024 05:00 AM

See More Questions

Multiple Choice Questions Identify the best answer for each of the following: 1. Which of the following general government capital asset acquisitions would be the least likely to be accounted for in...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
Selected answer is incorrect During substantive procedures, performing analytical procedures satisfies which primary audit objective: Cutoff Accuracy Existence Completeness 2 answers
One subunit of Track Sports Company had the following financial results last month: Requirements 1. Complete the performance evaluation report for this subunit (round to two decimal places). 2. Based...
Pronghorn Corporation owned 1 6 0 0 0 shares of Sandhill Corporation. These shares were purchased in 2 0 2 2 for $ 1 3 8 0 0 0 . On November 1 5 , 2 0 2 6 , Pronghorn declared a property dividend of...
Discuss how reality checks and discipline are involved in controlling and managing changes to the project schedule? LO.1
The Rolling Parts Division of Delk Company plans to set up a facility with the capacity to make 20,000 units annually of a webcam for laptop computers. The avoidable cost of making the webcam is as...
The following item is classified as a financing activity in the Cash Flow Statement: Select one: cash received from accounts receivable interest received on debentures held cash payment to purchase...
In practice, how is any remaining fund balance of a completed Capital Projects Fund used? a. Frequently, a governing body will specify what shall be done with any remaining fund balance before the...
Common expenditures in a Capital Projects Fund include a. bond issue costs. b. payments to contractors. c. bond discounts. d. All of the above are common expenditures in a Capital Projects Fund. e....
Investigate incidents where employees were fired for social media use. Prepare to discuss examples in class. Could the employer have avoided these incidents?
Malaysian Agrifood Corporation Berhad reported sales of RM 7 0 , 0 0 0 in May and RM 8 0 , 0 0 0 in June. The forecast sales for July, August and September are RM 9 0 , 0 0 0 , RM 1 0 0 , 0 0 0 , and...
1. Refer to the \"Plotting Data\" lesson (end of "Patterns to Notice") and plot the "Skydiver Velocity vs. Time\" data (taken from the video) on the following graph. to c) d) e) f) 9) Which is the...
The Star Company is considering a change in its credit terms to increase sales. Its current credit sales are $8.5 million per year and its present credit terms are 2/16 net of 20 basis. Discount is...
Determine the shear flow distribution for a torque of 57265.0Nm applied to the three cell section shown in the figure below. Note that the section has a constant shear modulus throughout. All answers...
2 a) Figure 1 shows the orientation of the carbon fibre which is orientate at 0.A9 radians from the vertical plane. Draw and label the element's normal and shear stresses acting on the carbon fibre...
After a reduction of 16 2/3% off the marked price, a pair of boots sold for $60. What was the marked price?
A researcher reports a significant two-way between-subjects ANOVA, F(3, 40) = 2.96. State the decision to retain or reject the null hypothesis for this test.
Distinguish between leader pricing and bait pricing. What do they have in common? How can their use affect a marketing mix?
Cite a local example of psychological pricing and evaluate whether it makes sense.
How does a prestige pricing policy fit into a marketing mix? Would exclusive distribution be necessary?
7 . 4 3 Buy - side vs . sell - side analysts' earnings forecasts. Refer to the Financial Analysts Journal ( July / August 2 0 0 8 ) study of earnings forecasts of buy - side and sell - side analysts,...
Bond P is a premium bond with a coupon of 8.6 percent , a YTM of 7.35 percent, and 15 years to maturity. Bond D is a discount bond with a coupon of 8.6 percent, a YTM of 10.35 percent, and also 15...
QUESTION 2 (25 MARKS) The draft financial statements of Sirius Bhd, Vega Bhd, Rigel Bhd and Capella for the year ended 31 December 2018 are as follows: Statement of Profit or Loss for the year ended...

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

Question:

Step by Step Answer:

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

Governmental And Nonprofit Accounting Theory And Practice

Students also viewed these Business questions