Which of the following are true? Current liabilities are paid off longer than 1

Question

Which of the following are true? Current liabilities are paid off longer than 1 year in the future Unsecured bonds are borrowed against the general credit of the Bond premiums are subtracted from the face value to reach carrying Times interest earned is a ratio to measure solvency Amortization of the discount increases the amount of interest expense reported each period Goodwill is recalculated every year to determine the current value of all favorable attributes that relate to a company that are not attributable to any other specific asset Cameron Co. owns a high-end, vintage, car dealership. He has acquired a new piece of land uptown that he will develop into a showcase for Ferraras. The following information is known regarding the land:

Explanation / Answer

(9) (d)

Rest options are incorrect.

(10) (a)

Recorded value of land = Price of property - Accumulated depreciation = $(125000 - 60000) = $65000

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