As a user of an AIS an accountant may be called upon to participate in the AIS design process.
Indicate whether the statement is true or false
Question 2
A government had 7,000,000 of 5, six month bond anticipation notes outstanding at the end of the fiscal year.
As of this date, the government has completed all legal procedures and the notes will be re-financed to a term of ten years the following month. The BAN liability reported in the Capital Projects Fund as of the end of the fiscal year should be
A. 0.
B. 350,000.
C. 3,500,000.
D. 7,000,000.
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