Genesis Reported That Bonds with a Face Value of $100,000

question 1

Multiple Choice

Genesis reported that bonds with a face value of $100,000 and a carrying value of$67,000 are retired for $60,000 cash, resulting in a loss of $7,000. The amount to be reported in the financing section is:

• A) $57,000.
• B) $3,000).
• C) $58,000.
• D) $60,000.
• E) This item is not reported.

---

Definitions:

Erikson

Refers to Erik Erikson, a developmental psychologist and psychoanalyst known for his theory on the psychosocial development of human beings.

Basic Trust

A sense of confidence and security in the world, typically developed in early childhood.

Autonomy

The capacity to make an informed, uncoerced decision independently or the state of being self-governing.

Intimacy

Intimacy is defined as a close and often affectionate or loving personal connection with another individual or group.