Which Statement About the Bonds Offered by State and Local

question 27

Multiple Choice

Which statement about the bonds offered by state and local government is INCORRECT?

• A)The construction of public university and school buildings, prisons, or mental health institutes are usually financed from bond purchaser revenues.
• B)General obligation bonds have the 'full faith and credit" of the general treasury behind the promise that bondholders will be repaid.
• C)State and local governments commonly offer two kinds of bonds: general obligation bonds and revenue bonds.
• D)Like general obligation bonds, revenue bonds have the resources of the general treasury behind them.
• E)Governments may take on short-term debt, usually for a year or less.

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Definitions:

Landmarks

Landmarks are recognizable natural or man-made features used for navigation, often serving as symbols or historical markers of a location.

Misinformation Effect

The phenomenon where a person's recall of episodic memories becomes less accurate because of post-event information.

Memory

The faculty by which the mind stores and remembers information, allowing learning and adaptation from past experiences.

Misleading Information

Incorrect or misleading facts presented to an individual, which may affect their perceptions, decisions, or memories.