A corporation issued 8% bonds with a par value of $1,000,000, receiving a $20,000 premium. On the interest date 5 years later, after the bond interest was paid and after 40% of the premium had been amortized, the corporation called the bonds at $990,000. The gain or loss on this retirement is:
A. $22,000 gain.
B. $22,000 loss.
C. $10,000 gain.
D. $10,000 loss.
E. $0.
Answer: A
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A. $100.00. B. $16.40. C. $15.64. D. $21.23. E. $20.25.
Jean Paul and Hermosa enter into a contract under which Jean Paul agrees to provide greensward services for Hermosa's Golf Links. Under an antidelegation clause, their contract can prohibit and prevent the transfer of
A. duties that are personal in nature. B. duties that are impersonal in nature. C. no duties under the contract. D. all duties under the contract.
Although commercial paper may be either negotiable or nonnegotiable, only ______ fall under the UCC
a. nonnegotiable instruments b. conditional instruments c. real instruments d. unconditional instruments e. none of the other choices are correct
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a. True b. False Indicate whether the statement is true or false