Use the Following to Answer Questions

question 99

Multiple Choice

Use the following to answer questions
Wayne Company issued bonds with a face value of $600,000,a 6% stated rate of interest,and a 10-year term.The bonds were issued on January 1,2016,and Wayne uses the straight-line method of amortization.Interest is paid annually on December 31.
-If Wayne issued the bonds for 96,

• A)the market rate of interest was equal to the stated rate of interest.
• B)the market rate of interest was lower than the stated rate of interest.
• C)the market rate of interest was higher than the stated interest rate.
• D)the bonds carried a variable or floating rate that changed in response to market conditions.

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Definitions:

Sporophyte

The diploid multicellular stage in the life cycle of a plant or alga that produces spores through meiosis.

Gametophyte

The sexual phase in the life cycle of plants and algae that produces gametes, or sex cells, by mitosis.

Alternation of Generations

A reproductive cycle of certain plants and algae that alternates between a sexual phase (gametophyte) and an asexual phase (sporophyte).

Sporophyte

The diploid, spore-producing phase in the life cycle of plants that undergo alternation of generations.