Blanding Company Issues $1 000 000 of 8%, 10- Year

question 54

Multiple Choice

Blanding Company issues $1 000 000 of 8%, 10- year debentures at 98 on 28 February 2013. The debenture pays interest on 28 February and 31 August. The market rate of interest on the issue date was 10%. On 31 August 2013, how much cash did Blanding pay out to debenture holders?

• A)$41 000
• B)$40 000
• C)$39 000
• D)$80 000

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Definitions:

Corporate Crime

Illegal acts committed by a company or individuals acting on its behalf, typically to increase profits.

Prosecuting

The act of bringing a legal action against someone, typically in a court of law, for the purpose of seeking justice for a crime or offence.

Labeling Theory

A theory that interprets the responses of others as most significant in understanding deviant behavior.

Conflict Theory

A sociological perspective that views conflict as an inherent and fundamental aspect of social life, often driving social change.