In the Year That a Governmental Entity Enters into a Legal

question 36

Multiple Choice

In the year that a governmental entity enters into a legal advance refunding, which of the following note disclosures would not be required?

• A) The present value of the net debt service savings or cost of advance refunding transaction.
• B) The amount of defeased debt that is still outstanding.
• C) The difference between total of the remaining debt service requirements of the old defeased issue and the total debt service requirements of the new issue, adjusted for any additional cash received or paid.
• D) General description of the transaction.

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Definitions:

Situational Factors

External influences that affect an individual's behavior, performance, or responses in various contexts.

Learning

The acquisition of knowledge or skills through experience, study, or being taught, which leads to a permanent change in behavior.

Competencies

A combination of skills, knowledge, and abilities that enable a person to perform tasks successfully.

Interpreting the World

The cognitive process of making sense of the environment and events around us, often influenced by personal experiences, culture, and cognitive biases.