As of 2010,which Country in the World Is the Only

question 24

Multiple Choice

As of 2010,which country in the world is the only one to be debt-free?

• A)Brunei
• B)Greece
• C)Japan
• D)All of these countries have public debt.

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Definitions:

Bonds Payable

A liability account that records the amount owed by an entity to holders of its bonds, to be repaid at a specified future date.

Straight-Line Method

An accounting method for calculating the depreciation of an asset, distributing its cost evenly across its useful life.

Interest-Bearing Note

A debt instrument that pays periodic interest payments to the holder until maturity, at which point the principal is repaid.

Bond Debenture

A type of unsecured debt instrument issued by a company to raise long-term funds, without collateral backing.