Can the U.S. government and the state governments' obligations be reported together?
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Last modified 9/18/2020 7:09:46 AM EST |
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The obligations of the U.S government and the state governments should not be combined.
The assets coming under the obligations of the state or the municipal government may be separately reported as a lump-sum total. The debt securities of the U.S. government may be listed as a single total.