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CT3: Please answer the following: 1) What is the difference between Permanent Funds and Private Purpose Trust Funds? 2) The General Fund is always considered

CT3: Please answer the following:

1) What is the difference between Permanent Funds and Private Purpose Trust Funds?

2) The General Fund is always considered to be a major fund. When are other governmental funds considered major?

3) What is a bond refunding and why do governments refund bonds?

4) What is the difference between a current refunding and advance refunding?

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