Tom Just Bought a Bond from United Pet Group

question 34

Multiple Choice

Tom just bought a bond from United Pet Group.This bond is only backed by the financial reputation of the company.What type of bond did Tom buy?

• A)Debenture
• B)Secured bond
• C)Certificate of deposit
• D)Commercial paper

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Definitions:

Specific Date

A particular day singled out from others because of its significance or relevance to an event or action.

Supplies on Credit

The acquisition of business supplies with an agreement to pay the supplier at a later date.

Accounting Equation

The fundamental equation of double-entry bookkeeping, stating that assets equal liabilities plus equity (Assets = Liabilities + Equity).

Services Provided

Work performed by one party for another without the supply of tangible goods. Examples include consulting, marketing, maintenance, and legal services.