Use the Information for the Question(s)below

question 100

Multiple Choice

Use the information for the question(s) below.
-A corporate bond which receives a BBB rating from Standard and Poor's is considered

• A)a defaulted bond.
• B)an investment grade bond.
• C)a high-yield bond.
• D)a junk bond.

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Definitions:

Voucher System

An accounting system that involves preparing and using vouchers—documents that authorize and detail the payment of a liability to a supplier.

Cash Receipts

The total amount of cash and cash equivalents received by a company during a given period, including sales, refunds, and other cash inflows.

Liabilities

Financial obligations or debts that a company owes to others, which are expected to be settled through the transfer of assets, provision of services, or other economic benefits.

Income Statement Account

A financial account that shows the company's revenues, expenses, and net income over a specific period.