1 Dividends paid by a corporation to its stockholders are ...
1 Dividends paid by a corporation to its stockholders are tax deductible by the corporation but interest paid on bonds is not. True False
2.The account Discount on Bonds Payable actually represents interest expense and will be amortized over the life of the bond. True False
3. Liabilities that fall due within one year or within the operating cycle are classified as current liabilities. True False
4. Off balance sheet financing may involve either:
A. An operating lease
B. A special purpose entity
C. Both of the above
D. Neither of the above
6 A $1,000 bond that sells for 104 has a selling price of: A. $1,004 B. $1,040 C. $1,400 D. $1,000
7.Interest payable on a loan becomes a liability: A. When the note payable is issued. B. As it accrues. C. At the maturity date. D. When the borrowed money is received.
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