A city issues a 60-day tax anticipation note to fund operations. What recording should it make?

a. The liability should be reported in the government-wide financial statements; an other financ¬ ing source should be shown in the fund-based financial statements.

b. A liability should be reported in the government-wide financial statements and in the fund-based financial statements. LO9

c. An other financing source should be shown in the government-wide financial statements and in the fund-based financial statements.

d. An other financing source should be shown in the government-wide financial statements; a lia¬ bility is reported in the fund-based financial statements.