In 2013, Game Co

question 39

Multiple Choice

In 2013, Game Co. took advantage of market conditions to refund its outstanding debt. Game should report the excess of the carrying amount of the old debt over the amount paid to extinguish it as a(n)

• A) deferred credit to be amortized over life of new debt
• B) part of continuing operations
• C) extraordinary item, net of income taxes
• D) prior period adjustment

---

Definitions:

Delivery Date

In finance, specifically with futures contracts, it is the date on which the underlying asset must be delivered or received under the terms of the contract.

Bond Market Indexes

Benchmarks that aggregate and measure the performance of bonds and fixed-income securities in a specific market segment or sector.

Infrequently

Infrequently pertains to events or actions that occur seldom or not often.