Accrued Interest on the Following Type of Debt Is Reported

question 4

Multiple Choice

Accrued interest on the following type of debt is reported in a governmental fund:

• A)short-term tax anticipation notes payable
• B)serial bonds
• C)general obligation bonds
• D)long-term bank notes

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Definitions:

Relational Database

A relational database is a digital database based on the relational model of data, where data is organized into tables (known as relations) that are related by common fields, allowing for efficient data retrieval and management.

Batch Processing

The accumulation of transaction data until a certain point is reached, at which time several transactions are processed at once.

Transaction

A process of buying or selling goods or services, or any exchange of value between two or more parties.