Which of the following statements regarding serial bonds is false?
A) The principal on serial bonds is paid over the term of the bonds.
B) The assets of a debt service fund may include Cash with Fiscal Agent
C) If the first payment is delayed for more than a year with equal payments thereafter, the bonds are deferred serial bonds
D) The principal repayment on an annuity serial bonds decreases each year as the outstanding balance decreases
Correct Answer:
Verified
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