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

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

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

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

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

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