Which type of refunding would typically NOT lead to the immediate elimination of refunded debt from the statement of net assets?

Crossover refunding typically involves issuing new bonds to pay off existing bonds, but the process is structured in such a way that the matured debt is not immediately removed from the financial statements. In crossover refunding, the proceeds from the new debt are placed in an escrow account to pay off the existing debt at a future date rather than immediately, which does not remove the refunded debt from the statement of net assets straightaway.

Advance refunding refers to issuing bonds before the existing bonds are callable, allowing the issuer to take advantage of favorable interest rates. While this can lead to debt being retired, it may not immediately eliminate the old debt from the financial statements until the call date.

Current refunding, on the other hand, involves the immediate replacement of one debt obligation with another, which typically leads to the immediate elimination of the refunded debt from the statement of net assets.

Thus, the combination of advance refunding and crossover refunding is what does not typically lead to the immediate elimination of refunded debt from the statement of net assets.