Interest Revenue on Bonds Is Reported

question 94

Multiple Choice

Interest revenue on bonds is reported

• A) as an addition to the Investment in Bonds account
• B) as part of comprehensive income but not as part of net income
• C) as part of other revenue
• D) as part of operating income

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Definitions:

AASB 138

An Australian Accounting Standard Board rule that outlines the accounting requirements for intangible assets not covered by other specific standards.

Finite Useful Lives

refers to the expected period over which an asset is anticipated to be economically beneficial to an entity, after which it is likely to be considered obsolete or worn out.

AASB 138

An Australian Accounting Standard that outlines the accounting treatment for intangible assets not covered by another Standard.

Intangibles

Non-physical assets owned by a firm that can include patents, trademarks, copyrights, and goodwill.