The Simplest Form of Journal Is One with

question 46

Multiple Choice

The simplest form of journal is one with

• A) four columns.
• B) three columns.
• C) two columns.
• D) one column.

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Definitions:

Financial System

Process by which money flows from savers to users.

Municipal Bonds

Bonds issued by state and local governments.

Revenue Bonds

Bonds issued by governments or municipalities that are intended to be repaid with revenue from a specific project or source, such as a toll road or public utility.

General Obligation Bonds

Long-term loans issued by municipalities that are backed by the general tax revenue of the municipality rather than revenue from a specific project.