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Author Question: A government defeases in substance old general government bonds with the proceeds of new bonds that ... (Read 138 times)

ereecah

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on: Jul 6, 2018
A government defeases in substance old general government bonds with the proceeds of new bonds that were issued for that purpose. Which bonds should be reported in the General Long-Term Liabilities accounts after the defeasance?
 
  a. The refunded bonds, but not the refunding bonds.
  b. The refunding bonds, but not the refunded bonds.
  c. Both the refunding bonds and the refunded bonds.
  d. Neither the refunding bonds nor the refunded bonds.

Question 2

If merchandise is bought with a list price of 3,500, subject to a 25 percent trade discount and a cash discount of 2/10, n/30, the amount credited to Accounts Payable is 2,625.
 a. True
   b. False
   Indicate whether the statement is true or false


briezy

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Reply #1 on: Jul 6, 2018
Answer to Question 1

B

Answer to Question 2

True


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ereecah

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Reply #2 on: Jul 6, 2018
Correct answers!


briezy

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Reply #3 on: Jul 6, 2018
Great! Please up vote :D


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