7) Under the effective-interest method of bond discount or premium amortization, the periodic interest expense is equal to
8) When a business enterprise enters into what is referred to as offbalance-sheet financing, the company
9) When the interest payment dates of a bond are May 1 and November 1, and a bond issue is sold on June 1, the amount of cash received by the issuer will be
10) On October 1, 2014 Macklin Corporation issued 5 %, 10-year bonds with a face value of $ 4,000,000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straightline basis.
11) Which of the following taxes does not represent a common employee payroll deduction?
12) Which of the following is an example of a contingent liability?
13) Sawyer Company self-insures its property for fire and storm damage. If the company were to obtain insurance on the property, it