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When authorizing bonds to be issued, the board of directors does not specify the Question 14 If the market rate of interest is 10%, a $10,000, 12%, 10-year bond that pays interest annually would sell at an amount Question 15 If bonds are issued at a discount, it means that the Question 16 In the balance sheet, the account Discount on Bonds Payable is Question 17 If bonds have been issued at a discount, then over the life of the bonds the Question 18 Ervay Company has $875,000 of bonds outstanding. The unamortized premium is $12,600. If the company redeemed the bonds at 101, what would be the gain or loss on the redemption? Question 19 The relationship between current assets and current liabilities is Question 20 Match the items below by entering the appropriate code letter in the space provided. ===================================================================================== ACC 556 Chapter 11 Quiz (100% Score) FOR MORE CLASSES VISIT www.acc556assist.com