A Material Gain or Loss from Debt Refunding Should Be

question 118

Multiple Choice

A material gain or loss from debt refunding should be

• A)recognized over the remaining life of the old issue as ordinary income or loss
• B)recognized in the current period as extraordinary income or loss
• C)recognized over the life of the new bond issue as extraordinary income or loss
• D)recognized in the current period as ordinary income or loss

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