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Use the Following Information to Answer the Question(s) Below

question 17

Multiple Choice

Use the following information to answer the question(s) below.

Plenty Corporation issued six thousand, $1,000 par, 6% bonds on January 1, 2012, at par. Interest is paid on January 1 and July 1 of each year; the bonds mature on January 1, 2017. On January 2, 2014, Scrawn Corporation, a 75%-owned subsidiary of Plenty, purchased 3,000 of the bonds on the open market at 102.50. Plenty's separate net income for 2014 included the annual interest expense for all 3,000 bonds. Scrawn's separate net income for 2014 was $400,000, which included the bond interest received on July 1 as well as the accrual of bond interest revenue earned on December 31. Both companies use straight-line amortization of bond discounts/premiums.

-If the bonds were originally issued at 103,and 70% of them were purchased on January 2,2016 at 104,the constructive gain or (loss) on the purchase was

Understand the doctrine of respondeat superior and its applicability.

Grasp why agency is critical for modern business operations, especially in international contexts.

Recognize the exceptions to the equal dignity rule.

Understand the concepts and purposes of secured transactions under the Uniform Commercial Code (UCC).

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Comprehensive Meta-analysis

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