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If a company chooses the fair value option, a decrease in the fair value of its bonds because of the credit rating dropping is recorded by crediting O Gain on Restructuring of Debt. O Unrealized Holding Gain or Loss-Equity O Unrealized Holding Gain or Loss-Income. O Bonds Payable.

If a company chooses the fair value option, a decrease in the fair value of its bonds because of the credit rating dropping is recorded by crediting O Gain on Restructuring of Debt. O Unrealized Holding Gain or Loss-Equity O Unrealized Holding Gain or Loss-Income. O Bonds Payable.

FINANCIAL ACCOUNTING
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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If a company chooses the fair value option, a decrease in the fair value of its bonds because of the credit rating dropping is recorded by crediting O Gain on Restructuring of Debt. O Unrealized Holding Gain or Loss-Equity O Unrealized Holding Gain or Loss-Income. O Bonds Payable.
Transcribed Image Text:If a company chooses the fair value option, a decrease in the fair value of its bonds because of the credit rating dropping is recorded by crediting O Gain on Restructuring of Debt. O Unrealized Holding Gain or Loss-Equity O Unrealized Holding Gain or Loss-Income. O Bonds Payable.
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