Quiz 5 - Quiz 5 15 points Fall 2009 - Chapter 10 Accounting...

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Quiz 5 – 15 points Accounting 284 Fall 2009 - Chapter 10 Dr. Anne Clem Name ______________________________________________________________ Row # ___________________ Class Time: 10 am 11 am Choose the best answer and indicate your answer in the space provided. Multiple choice (2 pts. each and workout answers 1 pt. each) _____1. Which of the following terms is used to describe the rate on which cash payments on bonds are based? A) market rate C) effective rate B) yield rate D) stated rate _____2. On July 1, 2005, Wilson Company issued $1,000,000, five-year, 9% bonds at 97. The reason Wilson issued the bonds at a discount was A) the stated rate of interest was lower than the rate being paid on investments with comparable risk. B) the stated rate of interest was the same as the rate being paid on investments with comparable risk. C) the stated rate of interest was higher than the rate being paid on investments with comparable risk. D) the bonds were callable.
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This note was uploaded on 05/05/2010 for the course ACCT 284 taught by Professor Clem during the Fall '08 term at Iowa State.

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Quiz 5 - Quiz 5 15 points Fall 2009 - Chapter 10 Accounting...

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