An Amortizing Interest-Rate Swap Is One in Which

question 1

Multiple Choice

An amortizing interest-rate swap is one in which

• A)The fixed interest rate in the swap declines in a specified manner over the life of the swap.
• B)The floating interest rate in the swap declines in a specified manner over the life of the swap.
• C)The notional principal amount in the swap declines in a specified manner over the life of the swap.
• D)The time-period between payments in the swap gets shorter in a specified manner.

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Definitions:

Fiscal Year

A fiscal year is the 12-month period used by governments and businesses for accounting and financial reporting purposes, which may not coincide with the calendar year.

Common Stock Dividends

Payments made to shareholders of common stock, usually in the form of cash or additional shares, from the company's earnings.

Accrual Basis

Accrual basis accounting is a method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is actually received or paid.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is received or paid, as opposed to when they are incurred.