True/Flase

11. Expenditures for interest on tax supported long-term debt issues are not accrued, even though debt service funds are accounted for on the modified accrual basis.

12.Premium or discount on bonds purchased as investments is accounted for in a similar manner as premium or discount on bonds payable sold.

13. Expenditures for capital lease payments consist of two elements: payment of interest on the lease obligation, and payment on the lease obligation itself.

14. Ordinarily, a Statement of Changes in Debt Service Fund Balance should be combined with the Statement of Revenues and Expenditures for the debt service fund.

15. Basic financial statements are often supplemented by schedules of securities held at the balance sheet date, and other schedules detailing securities transactions during the year.