A Certificate of Indebtedness Issued by a City That Creates

question 101

Multiple Choice

A certificate of indebtedness issued by a city that creates a legal obligation to repay the principal of the loan plus accrued interest is called

• A)an ordinance.
• B)sales tax.
• C)a homestead exemption.
• D)a bond.
• E)a capital expenditure.

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Definitions:

Price Index

A statistical measure that examines the weighted average of prices of a basket of consumer goods and services, showing trends in inflation or deflation.

Inventory Value

The total cost or market value of all the goods held by a company that are available for sale.

Cost Of Goods Sold

The immediate expenses associated with manufacturing the products a company sells, covering both materials and manpower.

Accounts Payable

Money owed by a business to its suppliers shown as a liability on the company's balance sheet.