On January 1 . SOMA issued ten-year bonds with a face amount of $1,000,000 and a stated interest rate of 8 percent payable annually each January 1 . The bonds were priced to yield 1 . percent. The total issue price (rounded) of the bonds was
a. $1,000,000.
b. $980,000.
c. $920,000.
d. $880,000.
D
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Answer the following statements true (T) or false (F)
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When planning the audit, information is gathered by all of the following methods except
a. completing questionnaires b. interviewing management c. observing activities d. confirming accounts receivable
If a stock's expected return as seen by the marginal investor exceeds this investor's required return, then the investor will buy the stock until its price has risen enough to bring the expected return down to equal the required return.
Answer the following statement true (T) or false (F)
When the National Mediation Board offers arbitration to negotiators covered by the Railway Labor Act, they are obligated to accept.
Answer the following statement true (T) or false (F)