A gain is earned when retiring bonds before their maturity date is recognized by
A) amortizing it over the remaining life of the bond.
B) making a prior period adjustment.
C) reporting it as an extraordinary item in the year of retirement.
D) reporting it as an ordinary item in the year of retirement.
D
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If a major concession has been made on a significant point, it is expected that the reciprocal concession will be on the same item or one of similar weight and comparable magnitude.
Answer the following statement true (T) or false (F)
The notes to the financial statements provide information on the components of book income before taxes, the current and deferred portions of income tax expense, a reconciliation between income taxes at the statutory rate and the effective rate, and the components of deferred tax assets and deferred tax liabilities
Indicate whether the statement is true or false
What is an antideficiency statute?
What will be an ideal response?
Laws and regulations of various governments and their ongoing development and change are an example of _____ factors that are part of all organizations' external environment.
A. economic investment B. political and legal C. research and development D. competitive E. demographic