Chapter 13 – Fill in the Blanks
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Under ____________, an equal amount of discount is allocated to each interest period, whereas, under the ____________ method of amortization, interest expense is calculated as a constant percentage of the bond carrying value.CorrectIncorrect
Although one can readily determine the present value factors for a lump sum via tables or computers, an equally simple method is to just divide “1” by ____________ , where “n” is the number of periods and “i” is the interest rate per period.CorrectIncorrect
The set amount to be repaid on a bond’s maturity date is known as ____________, whereas, the bond payable amount less any unamortized discount or plus any unamortized premium is known as ____________.CorrectIncorrect
Ratio analysis of indebtedness provides clues about the financial strength of an entity, but the user of the financial statements should look to the notes to determine additional information about other ____________ and ____________.CorrectIncorrect