In which of the following instruments the principal value can increase/decrease by the amount of inflation or deflation? a. Municipal bonds b. STRIPS Oc. TIPS Od. Accrued interest Saved
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- Which of the following items is remeasured using the current exchange rate under the temporal method? Choose the correct.a. Bonds payable.b. Dividends declared.c. Additional paid-in capital.d. Amortization of intangibles.Which of the following items is remeasured using the current exchange rate under the temporal method?a. Bonds payable.b. Dividends declared.c. Additional paid-in capital.d. Amortization of intangibles.The amortization of premium on bonds payable will _____________ the net income. a. increaseb. decreasec. not affectd. offset
- 15. The amortization of bond premium on long-term debt should be presented in a statement of cash flows (using the indirect method for operating activities) as a(n) deduction from net income. investing activity. addition to net income. financing activity.What is the effective interest rate of a bond or other debt instrument measured at amortized cost? Select the correct response: The interest rate currently charged by the entity or by others for similar debt instruments (i.e., similar remaining maturity, cash flow pattern, currency, credit risk, collateral, and interest basis). The interest rate that exactly discounts estimated future cash payments or receipts through the expected life of the debt instrument or, when appropriate, a shorter period to the net carrying amount of the instrument. The basic, risk-free interest rate that is derived from observable government bond prices The stated coupon rate of the debt instrument.Interest revenue for debt investments at fair value through other comprehensive income is computed based on the instruments’ a. face value using the effective interest rate. b. face value using the nominal interest rate. c. carrying amount using the effective interest rate. d. carrying amount using the nominal interest rate.
- Balance sheet values are calculated using compound interest (present value) calculations for all of the following except a.bonds payable. b.long-term notes receivable. c.long-term lease liabilities. d.deferred income taxes.The amortization of premium on bonds payable will _____________ the net income.Investment in debt instruments classified as FA@FVTOCI recognizes which of the following in OCI? A. Interest calculated using the effective interest method. B. All of these. C. Changes in fair value D. Impairment gains and losses
- How is the premium or discount on debt investments at fair value through profit or loss accounted for? As part of amortized cost and amortized over the life of the bonds. As part of the cost until the disposal of the asset. As expense or revenue in the period the bonds are purchased. All of the above.The carrying value of Bonds Payable equalsa. Bonds Payable plus Discount on Bonds Payable.b. Bonds Payable minus Discount on Bonds Payable.c. Bonds Payable minus Premium on Bonds Payable.d. Bonds Payable plus Accrued Interest.The application of the present value factors in the computation of carrying amounts of bonds payable is a representation of what accounting principle? Conservatism Matching Principle Time Value of Money Materiality