You Passed an Important Exam but Missed Five Questions

question 6

Multiple Choice

You passed an important exam but missed five questions. What should you do now?

• A) Find the correct answers and learn from your mistakes.
• B) Don't waste time worrying about them because you passed the test.
• C) Assume the questions were poorly written or tricky.
• D) Start preparing now for the next test.

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Definitions:

Amortization

Amortization is the process of spreading out a loan into a series of fixed payments over time, or gradually writting off the initial cost of an intangible asset.

Discount on Bonds Payable

The difference when bonds are issued for less than their face value, representing an extra cost of borrowing to the issuer.

Straight-Line Method

A method of calculating depreciation or amortization by evenly spreading the cost of an asset over its useful life.

Amortization

The process of spreading the cost of an intangible asset over its useful life.