Examlex
The extent of substantive tests for an assertion in relation to the assessed level of inherent risk varies in a relationship that is ordinarily:
Discount on Bonds Payable
This term refers to the difference between a bond's face value and its selling price when the bond is sold for less than its face value.
Contract Rate
The agreed-upon interest rate specified in a contract, particularly relevant in loans and financing agreements.
Market Rate
The current price or interest rate at which goods, services, or securities are bought and sold in a competitive marketplace.
Bond Selling Price
The market price at which a bond is traded, which may be above (premium) or below (discount) its face value.
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