A Government Security Issued in Minimum Units of $100 with Maturities

question 24

Multiple Choice

A government security issued in minimum units of $100 with maturities that are one year or less is called a:

• A)subordinated bond.
• B)Treasury bill.
• C)Treasury note.
• D)Treasury bond.
• E)savings bond.

---

Definitions:

Credit Sales

Transactions where goods or services are provided to a customer with an agreement to receive payment at a later date.

Invoice Price

The amount charged by the seller to the buyer, detailing the cost of the product or service sold.

Merchandise

Merchandise refers to the goods that a business purchases to resell at a profit.

Journal Entries

The method used to record all transactions in an accounting system, ensuring that credits and debits are balanced.