When Bonds Are Retired Before Their Maturity Date

question 39

Multiple Choice

When bonds are retired before their maturity date:

• A)GAAP has been violated.
• B)The issuing company will always report a non-operating gain.
• C)The issuing company will always report a non-operating loss.
• D)The issuing company will report a non-operating gain or loss.

---

Definitions:

Figural Art

Artwork that represents human or animal figures, as opposed to abstract or nonrepresentational forms.

Realistic

Pertaining to the attempt to represent subject matter truthfully, without artificiality and avoiding speculative fiction and supernatural elements.

Idealized

Representation of objects or figures in an ideal or perfect state, often beyond reality.

Ivory Statuettes

Small sculptures crafted from ivory, often highly detailed and prized for their beauty and intricacy in various cultures.