Service Canada Considers a Couple Who Have Been Living Together

question 135

Multiple Choice

Service Canada considers a couple who have been living together for at least ________ year(s) to be spouses.

• A)one year
• B)two years
• C)three years
• D)four years

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Definitions:

Bond Issuance Costs

These are expenses that a company incurs when it issues bonds, including legal, accounting, and underwriting fees.

Premium Amortization

The process of gradually expensing the premium paid above a bond's face value over the remaining life of the bond.

Effective-interest Method

The effective-interest method is a technique used in amortizing the discount or premium on bonds payable, where the interest expense recorded over time corresponds to the bond's carrying value.

Interest Expense

Interest expense is the cost incurred by an entity for borrowed funds, recognized on the income statement.