What Is the Name for a Bond Whose Repayment Is

question 21

Multiple Choice

What is the name for a bond whose repayment is guaranteed by the full faith and credit of the state?

• A) Revenue bond
• B) General obligation bond
• C) Special assessment bond
• D) Limited obligation bond
• E) High-yield bond

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Definitions:

Cash Realizable Value

The amount of money that could be received from selling or disposing of an asset after accounting for all associated costs.

Accrued Interest

Interest that has accumulated over a period of time but has not yet been paid.

Merchandise Sale

The transaction of selling goods that are purchased for resale by a business.

Promissory Note

A financial instrument containing a written promise by one party to pay another party a definite sum of money either on-demand or at a specified future date.