Final answer:
General obligation bonds are municipal bonds backed by the taxing power of the issuing government. The source of income for these bonds needs to be disclosed as it provides transparency and helps investors assess the creditworthiness and risk.
Step-by-step explanation:
General obligation bonds are a type of municipal bond issued by cities or states to finance public projects. These bonds are backed by the taxing power of the issuing government, which means that the government pledges to use tax revenue to repay the bondholders. Since the source of income for general obligation bonds is tax revenue, it is important to disclose this information to investors and potential bondholders.
Therefore, the correct answer is A) Yes, the source of income needs to be disclosed. By disclosing the source of income, it provides transparency and helps investors assess the creditworthiness and risk associated with the bonds.