A Fund to Which Annual or Semiannual Deposits Are Made

question 110

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)money
• C)debenture
• D)indenture
• E)sinking

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Definitions:

Fees Earned

Revenue generated from providing services, recognized when the service is performed regardless of when the payment is received.

Transactions

The exchange of goods, services, or funds between two or more parties, forming the basic activities recorded in accounting.

Parking Lot Cleaning

The service of removing trash, debris, and sometimes snow from outdoor parking areas to maintain cleanliness and safety.

Gas & Electric Company

A utility company providing natural gas and electricity services to residential, commercial, and industrial customers.