Any Gains or Loss on the Early Retirement of Bonds

question 173

Multiple Choice

Any gains or loss on the early retirement of bonds sold should be recorded as a(n) :

• A)ordinary revenue or expense reported on the income statement.
• B)adjustment to financing activity on a statement of cash flows.
• C)other income/loss.
• D)prior period adjustment, net of tax, shown on the statement of retained earnings.

---

Definitions:

Website Owners

Individuals or entities who are responsible for the management, content, and operation of a website.

Intellectual Property

represents a range of intangible rights owning to the creations of the mind, such as inventions, literary and artistic works, designs, symbols, names, and images.

Communication Process

The series of steps through which information is transmitted and received between two or more parties, encompassing encoding, sending, receiving, and decoding.

Key Elements

Essential parts or aspects that form the basis of something, often determining its success or effectiveness.