Any accrued interest paid by the purchaser to the local unit at time of delivery and settlement as a result of the sale of bonds is set up in an account titled "Accrued Interest on Bonds" if the settlement occurs during the first six months of the local unit's fiscal year and the amount in this account is used to pay a portion of the interest on the bonds which falls due in the latter six months of the same fiscal year.
a) True
b) False
