Under ASPE, If a Debt Refunding Is Viewed as a Modification

question 52

Multiple Choice

Under ASPE, if a debt refunding is viewed as a modification or renegotiation, then

• A) a new effective-interest rate is calculated.
• B) a gain or loss is recorded.
• C) there is no change in the accounting for the debt.
• D) the old debt is derecognized.

Understand the importance of human capital as a strategic priority in organizations.

Explain the role and impact of groups and teamwork within organizations for achieving organizational goals.

Distinguish between the purposes and functions of different types of organizations, including profit and non-profit entities.

Appreciate the necessity for organizations to adapt and innovate for survival and effectiveness.