________ Are Obligations of the U

question 256

Multiple Choice

________ are obligations of the U.S. Treasury with common maturities of 91 to 182 days and that have a strong secondary market.

• A) Treasury notes
• B) Treasury bills
• C) Federal agency issues
• D) Banker's acceptances

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Definitions:

Year-End Balance

The final amount of money in an account at the end of a financial year, after all transactions and adjustments have been accounted for.

Accounts Receivable

Represents the money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Supplies

Items used in the operation of a business that are consumed or are not permanent, such as paper, pencils, and cleaning materials.

Net Income

The net income a company achieves following the deduction of all costs, taxes, and expenses from its total earnings.