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Instructions: Explain/Define the following terms.
Paul
Bonds Payable
Long-term liabilities representing money a company owes to bondholders.
Interest Expense
The cost incurred by an entity for borrowed funds, representing the interest payable on any borrowings - bonds, loans, convertible debt, or lines of credit.
Consolidated Net Income
The total earnings of a parent company and its subsidiaries, after taxes and interest, reported as a single figure.
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