A city issues a 60-day tax anticipation note to fund operations. What recording should it make?
a.The liability should be reported in the government-wide financial statements; an other financing source should be shown in the fund-based financial statements.
b.A liability should be reported in the government-wide financial statements and in the fund-based financial statements.
c.An other financing source should be shown in the government-wide financial statements and in the fund-based financial statements.
d.An other financing source should be shown in the government-wide financial statements; a liability is reported in the fund-based financial statements.
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