45 6 7 Please answer the questions i need it asap 45. What is the effect of bond discount amortization on the interest income over the life andcarrying value of term bonds purchased and measured at amortized cost?Interest incomeIncreasingDecreasingIncreasingDecreasingCarrying valueIncreasingDecreasingDecreasingIncreasinga.b.C.d.6. The new term to describe the statement containing the profit or loss items together with theother comprehensive income items isa. Statement of comprehensive incomeb. Statement of financial positionc. Statement of financial performanced. Income and expense statement7. Which of the following business transactions is/are recordable?I. An inquiry from a customerII. A purchase order sent to supplierIII. A sales order sent to customerIV. An approved purchase order from a customer.a. I, Il and IVb. IIl and IVc. II, III and IVd. I, II, III and IV

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Answered: 45. What is the effect of bond discount…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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.