The Normal Balance of the Premium on Bonds Payable Account

question 79

Multiple Choice

The normal balance of the premium on bonds payable account and the discount on bonds payable are respectively:

• A)debit, credit.
• B)credit, credit.
• C)debit, debit.
• D)credit, debit.

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Definitions:

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First-To-Invent Rule

A patent law principle stating that the right to a patent for an invention goes to the first person to invent it, not necessarily the first to file a patent application.

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A form of intellectual property protection granted by law to the creators of original works of authorship, including literary, dramatic, musical, and certain other intellectual works.

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A legal term often associated with copyright laws, referring to the duration in which copyright protection lasts based on the creator's lifetime plus a number of years posthumously.