Authoritative Guidance Requires Firms That Account for Notes and Bonds

question 9

Multiple Choice

Authoritative guidance requires firms that account for notes and bonds using the _____ market interest rate to report the carrying values, or book values, on the balance sheet and to disclose the _____ of these notes and bonds in notes to the financial statements.

• A)average; historical market interest rates
• B)historical; future value
• C)current; future value
• D)historical, fair value
• E)current; historical market interest rates

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