On November 1,2015,Archangel Services Issued $200,000 of 10-Year Bonds with a Stated

question 102

Multiple Choice

On November 1,2015,Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%.The bonds were sold at discount for $191,000,and make semiannual payments on April 30 and October 31.At December 31,2015,Archangel made an adjusting entry to accrue interest at year-end.How much interest expense is recorded at December 31,2015?

• A) $1,075
• B) $2,000
• C) $1,150
• D) $2,150

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Definitions:

Ethical Issues

Situations or problems requiring a choice between competing sets of principles, where following one set may result in transgressing another.

Altruistic Leader

A leader who prioritizes selflessly the well-being and interests of others above their own, often inspiring loyalty and high morale among followers.

Greatest Good

A principle aimed at achieving the highest level of benefit or welfare for the greatest number of people, often considered in ethical decision-making.

Ethical Approach

A method or strategy for decision-making that prioritizes ethical principles and values, often emphasizing morality, fairness, and justice.