45. What is the effect of bond discount amortization on the interest income over the life and carrying value of term bonds purchased and measured at amortized cost? Interest income Increasing Decreasing Increasing Decreasing Carrying value Increasing Decreasing Decreasing Increasing a. b. С. d.
45. What is the effect of bond discount amortization on the interest income over the life and carrying value of term bonds purchased and measured at amortized cost? Interest income Increasing Decreasing Increasing Decreasing Carrying value Increasing Decreasing Decreasing Increasing a. b. С. d.
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:45. What is the effect of bond discount amortization on the interest income over the life and
carrying value of term bonds purchased and measured at amortized cost?
Interest income
Increasing
Decreasing
Increasing
Decreasing
Carrying value
Increasing
Decreasing
Decreasing
Increasing
a.
b.
C.
d.
6. The new term to describe the statement containing the profit or loss items together with the
other comprehensive income items is
a. Statement of comprehensive income
b. Statement of financial position
c. Statement of financial performance
d. Income and expense statement
7. Which of the following business transactions is/are recordable?
I. An inquiry from a customer
II. A purchase order sent to supplier
III. A sales order sent to customer
IV. An approved purchase order from a customer.
a. I, Il and IV
b. IIl and IV
c. II, III and IV
d. I, II, III and IV
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