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Accounts Payable
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Terms in this set (101)
A certificate of debt issued by a government or business guaranteeing payment of the original investment plus interest by a specified future date. Municipal bonds are issued by a city, county, town, or district. Interest earned on these bonds are exempt from federal income tax and, in some cases, state income tax. Revenue bonds are backed by revenues received from a specific project such as a toll bridge. Industrial revenue bonds are municipal revenue bonds to finance industrial or commercial construction.