Bonds are sometimes called ________ securities because they pay set amounts on specific future dates

A) variable-income
B) fixed-income
C) bully
D) real

Answer: B

Business

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Prepare journal entries for the following transactions for Grant Company:

May 1 Purchased equipment from Knox, Inc. for $5,000 giving a 3 month 8% note Aug. 1 Paid amount due on note What will be an ideal response?

Business

Which of the following items is treated as a cash equivalent?

a. Commercial paper with a 6-month maturity when purchased and 4 months until maturity at the balance sheet date. b. Investment in corporate stocks which management intends to sell within 3 months after the balance sheet date. c. Money market funds which can be obtained overnight from a bank or brokerage firm. d. Investments in corporate bonds which have 5 years until maturity when they are purchased.

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