When Callable Bonds Are Redeemed Below Carrying Value

question 91

Multiple Choice

When callable bonds are redeemed below carrying value,

• A) Gain on Redemption of Bonds is credited
• B) Loss on Redemption of Bonds is debited
• C) Retained Earnings is credited
• D) Retained Earnings is debited

---

Definitions:

Walt Disney

An American film producer, director, screenwriter, voice actor, and animator, founder of The Walt Disney Company.

Oswald The Rabbit

An early animated cartoon character created by Walt Disney and Ub Iwerks, predating Mickey Mouse and known for its significance in animation history.

Greek Myth

A collection of stories belonging to the ancient Greeks concerning their gods and heroes, the nature of the world, and the origins and significance of their religious practices.

Daedalus

a skilled craftsman and artist in Greek mythology, known for creating the Labyrinth and the wings for his son Icarus.