A Fund to Which Annual or Semiannual Deposits Are Made

question 21

Multiple Choice

A fund to which annual or semiannual deposits are made for the purpose of redeeming a bond issue is called a(n) ____________ fund.

• A) serial
• B) sinking
• C) debenture
• D) indenture
• E) money

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Definitions:

Account Receivable

Money owed to a company by customers who have purchased goods or services on credit.

Classified Revenue

Classified revenue involves organizing a company's revenue into distinct categories for detailed financial analysis and reporting.

Accounting Equation

The fundamental principle of accounting that states assets equal liabilities plus owner's equity.

Purchasing Supplies

The process of acquiring the goods and materials a company needs to operate.