The Premium on Bonds Payable Account Is Shown on the Balance

question 58

Multiple Choice

The Premium on Bonds Payable account is shown on the balance sheet as:

• A) a contra asset.
• B) a reduction of an expense.
• C) as an increase in equity for the premium provided.
• D) an addition to a long-term liability.

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Definitions:

Evolution

The change in the heritable characteristics of biological populations over successive generations.

Great Chain of Being

An ancient and medieval concept that all forms of life and matter in the universe have a precise order and hierarchy, from the lowest forms of matter to the highest spiritual beings.

Biological Entities

Refers to any entity that is considered living, including organisms, cells, and viruses, distinguished by their capacity for growth, reproduction, and response to stimuli.

Higher Forms

A non-scientific term that has been used historically to refer to more complex life forms or organisms with advanced levels of organization.