Patents filed with the U.S. Patent Office: 

A. are only accessible to government agencies.
B. frequently suggest other new products.
C. are the property of the U.S. Government.
D. are not disclosed to the public.


Answer: B

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Bonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a balance of $10,000 . If theissuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption?

a. $10,000 loss b. $25,000 loss c. $25,000 gain d. $15,000 gain

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In a service organization using a job order costing system, actual overhead will be the same as applied overhead

Indicate whether the statement is true or false

Business

Firms must disclose in notes to the financial statements the cash flows associated with capital leases and with operating leases for each of the succeeding _____ years and for all years after _____ years in the aggregate

a. two: two b. three; three c. four; five d. five; five e. six; six

Business

A company issued 7%, 5-year bonds with a par value of $100,000. The market rate when the bonds were issued was 7.5%. The company received $97,947 cash for the bonds. Using the effective interest method, the amount of interest expense for the first semiannual interest period is:

A. $3,705.30. B. $3,500.00. C. $3,673.01. D. $7,346.03. E. $7,000.00.

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