(1.) Discounts on bonds payable are calculated as the bonds' _____.

a.selling price less maturity value

b.face amount less its current yield

c.face amount less the selling price

d.selling price less interest paid on the bonds

(2.) _____ is a stock that a corporation has issued and then reacquired.

a.No-par stock

b.Retained earning

c.Legal capital

d.Treasury stock

(3.) _____ includes the purchasing of goods and services on account as well as issuing notes payable which are due in one year.

a.A cash equivalent

b.Short-term debt

c.Gross payroll

d.A contingent liability

(4.) If a company purchases treasury stock, _____.

a.revenue increases

b.the earnings per share increases

c.net assets increase

d.expenses increase

(5.) Liabilities are debts owed to others called _____.

a.retained earnings

b.equity

c.creditors

d.debtors