17 true or false questions. I just need to know which are true and which are false. The ones that are false though, I need to know how to make them true or what it is that makes them false.See TRUE OR FALSE QUESTIONS.docx

1. The issuance of bond anticipation notes that do not meet the requirements for long-term debt, would result in an increase in the fund balance of the Capital Project fund. 2. Bond anticipation notes would be considered as current regardless of the maturity date. 3. If the market rate on bonds is greater than the bond's contract rate the government fund would record other financing source for the bond premium. 4. Arbitrage is a common practice for state and local governments who want to leverage the proceeds from tax-exempt bonds. 5. Legal defeasance require disclosures to be made each year until the old debt has matured or been terminated 6. All governmental capital outlays, including capitalized leases, must be accounted for through Capital Project Funds. 7. Interest on general long term liabilities would be accrued at the end of the year if the payment is due early in the next period. 8. Encumbrance accounting is used by Capital Project Funds even if budgetary accounting is not required. 9. Debt defeased in substance through an advance refunding would result in the old debt being removed from the non-fund account group. 10. The function of the debt service fund is to account for government resources for the repayment of all governmental debt. 11. Bond discounts would be recorded as an expenditure in a Capital Projects Fund. 12. Advance refundings means that all outstanding debt is removed from the General Long Term Liability Account Group. 13. The retirement of BAN principal treated as long term would be recorded as an Other Financing Use (OFU). 14. Accrued Interest would not be collected when bonds are sold at par value 15. Non-defeasance of debt in the Debt Service Fund would be recorded as an Investment. 16. Government Funds cannot record interest on fund investments due to the regulatory arbitrage restrictions. 17. Accrued interest would be collected only if the bonds are issued at par