Multiple Choice
Which type of accounting is primarily concerned with tracking and reporting the amounts a business owes to others, such as loans and accounts payable?
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1. Introduction to Accounting
Types of Accounting
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Which type of bond is typically issued by local governments to finance community improvements such as schools, roads, and parks?
A
Municipal bond
B
Treasury bond
C
Savings bond
D
Corporate bond
Verified step by step guidance1
Understand the purpose of the bond: Local governments issue bonds to finance community improvements such as schools, roads, and parks. These bonds are typically associated with public projects that benefit the community.
Learn the definition of a municipal bond: Municipal bonds are debt securities issued by local governments, counties, or states to fund public projects. They are often tax-exempt, making them attractive to investors.
Compare municipal bonds with other types of bonds: Treasury bonds are issued by the federal government, savings bonds are designed for individual investors and are backed by the U.S. government, and corporate bonds are issued by companies to raise capital.
Identify the correct bond type: Based on the description of financing community improvements, municipal bonds are the most appropriate type of bond issued by local governments.
Conclude that municipal bonds are the correct answer, as they align with the purpose of funding public projects like schools, roads, and parks.
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