When a Portion of a Bond Issue Is Redeemed, a Related

question 150

True/False

When a portion of a bond issue is redeemed, a related proportion of the unamortized premium or discount must be written off.

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Definitions:

Executive Agencies

Agencies of the executive branch of government responsible for enforcing laws and administering public policy.

Enabling Legislation

A statute that specifies the name, functions, and specific powers of an administrative agency and grants the agency broad powers for the purpose of serving the public interest, convenience, and necessity.

Administrative Agency

A governmental body with the authority to implement and administer particular legislation, including making regulations, issuing licenses, and enforcing laws.

Statute

A written law passed by a legislative body at the federal or state level.