In 2006,international Trading of Goods and Services Exceeded

question 62

Multiple Choice

In 2006,international trading of goods and services exceeded

• A) $9 million.
• B) $9 billion.
• C) $9 trillion.
• D) $14 trillion.

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Definitions:

Bonds Payable

Long-term liabilities represented by promissory notes issued by a company to raise capital, to be repaid at a future date.

Installment Note

A debt instrument that requires the borrower to make regular payments (installments) of principal and interest over a set period until the total debt is paid.

Journal Entry

A record in the books of accounts that represents a transaction and its effect on various accounts.

Interest Expense

The financial charge for an entity using borrowed capital over a time frame.