________ are issued in anticipation of the collection of taxes or other expected revenues. The purpose of these borrowings is to even out irregular flows into the treasuries of the issuing entity.

Question

Quizplus · Accepted Answer

Tax Revenue Anticipation Notes (TRANs) are issued in anticipation of the collection of taxes or other expected revenues. The purpose of these borrowings is to even out irregular flows into the treasuries of the issuing entity. BANs (Bond anticipation notes), GANs (Grant anticipation notes) are also short-term notes issued to meet immediate financial needs, but not specifically related to tax or revenue collections.

________ Are Issued in Anticipation of the Collection of Taxes