Another Name for a Consol Is a ________ Because It

question 95

Multiple Choice

Another name for a consol is a ________ because it is a bond with no maturity date. The owner receives fixed coupon payments forever.

• A)perpetuity
• B)discount bond
• C)municipality
• D)high-yield bond

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Definitions:

Subsidiary Ledger

A detailed ledger that contains the individual accounts with a common characteristic, linked to a general ledger account.

Accounting Information System

A system used to collect, store, manage, process, retrieve, and report financial data for the users.

Manual Accounting System

A system in which someone performs each of the steps in the accounting cycle by hand.

Special Journals

Accounting books designed for recording specific types of transactions, such as sales, purchases, cash receipts, and cash disbursements.