1. What is the distinction between general obligation debt and revenue bond debt? Why might a government issue revenue bond debt instead of general obligation debt?
2. Government investment policies including those demonstrated by Orange County, CA that led to their bankruptcy have been sharply criticized because of significant losses incurred by certain governments. What is the nature of the problem that is being criticized? What should be the role of accounting in determining and reporting investment strategies?

4. What is the distinction between general obligation debt and revenue bond debt? Why might a government issue revenue bond debt instead of general obligation debt? 5. Government investment policies including those demonstrated by Orange County, CA that led to their bankruptcy have been sharply criticized because of significant losses incurred by certain governments. What is the nature of the problem that is being criticized? What should be the role of accounting in determining and reporting investment strategies