Which of the following is not needed in calculating the value of a bond?
A) Face interest rate
B) Market interest rate
C) Dollar amount periodic interest payments
D) Future value of face (maturity) amount
D
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Answer the following statements true (T) or false (F)
1. Investment income may come from interest earned from debt investments, dividends earned from stock investments, and/or increases in the market value of the security. 2. Short-term investments are investments in debt and equity securities that the investor intends to hold for longer than one year. 3. Trading debt investments are categorized as concurrent assets. 4. Depending on the maturity date, held-to-maturity debt investments are categorized as current assets or long-term assets on the balance sheet.
Mercury Company established a petty cash fund with a $600 balance. Which of the following statements is incorrect?
A) A journal entry is needed to debit the Cash account and credit the Petty Cash account for $600. B) There is no net effect on current assets. C) The sum of the cash plus the total of the petty cash tickets should equal $600 at all times. D) The petty cash custodian cashes a check for $600 and places the currency in the petty cash fund box.
Which of the following bad-news messages should be organized using the direct strategy?
A) An announcement of changes in business services B) A layoff notice for a long-time employee C) A denial of benefits on an insurance claim to an angry customer D) A notice of an unexpected plant closure to the city council and mayor
A favorable direct materials cost variance occurs when the actual direct materials cost incurred is greater than the standard direct materials cost
Indicate whether the statement is true or false