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Enterrise statements O Short term dettd o s on governmental fund statements For Questions 20...

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Enterrise statements O Short term dettd o s on governmental fund statements For Questions 20 through 24, please answer True (A) or Fase (B) 20 General Obligation bonds are backed by the fuil aith and credit of a local D1 They don't prefer to classity debt as long term government A) True B) Faise 21. Revenue bonds usually carry lower interest rates than General Obligation bonds A) True B) False 22. Governments can file for bankruptcy under Chapter 8 of the Federal Bankruptcy code? A) True B) False 23. Term bonds promote inter-period equity better than serial bonds? A) True B) False 24. RANS and TANS are usually classified as current liabilities? A) True B) False 25. Which of the following is true of demand bonds? A) They give the issuer the right to call the bonds at a pre-established price 8) They give the issuer the right to demand that the bondholders purchase additional bonds at a pre-established price i C) They give the bondholder the right to demand repayment prior to maturity D) They give the bondholder the right to first refusal with respect to any additional bonds sold by the issuer

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