A Loan Credit Rating Is the Same as Bond Credit

question 6

True/False

A loan credit rating is the same as bond credit rating in that it is based solely on the financial soundness of the underlying corporation.

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Definitions:

Purchases Journal

A record where a business notes all purchases of goods intended for resale or use in production, particularly on credit.

Revenue Journal

An accounting ledger detailing all income transactions for a business, used to track and manage sources of revenue.

General Journal

A comprehensive accounting record of all transactions, listed in chronological order.

Withdrawal of Cash

The act of taking money out from a business by the owners for personal use, not related to business expenses.