All of the following statements regarding a Debt Service Fund are true except

1. A Debt Service Fund is rarely used to account for all of a governmental entity's general obligation bond repayments.
2. Debt service on capital lease obligations is generally not accounted for in a Debt Service Fund.
3. A government may have several Debt Service Funds.
4. A government may use one Debt Service Fund to account for multiple general government debt issuances.