Which of the following statements is correct? At the local government level, when...
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Accounting
Which of the following statements is correct?
At the local government level, when citizens vote to pass a bond referendum to issue general obligation bonds to construct capital assets, the citizens are also voting for future increases in their property taxes.
To avoid overstating liabilities and understating fund balance, accrued but unpaid interest at year-end on general obligation bonds should not be reported on the financial statements of a debt service fund.
A and B.
Neither A nor B.
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