1,Some partnership may have limited and unlimited liable partners. true/false

2, If coupon rate is higher than market interest rate it is premium bond.true/false

3, In a premium bond amortization, we are deduction amortization amount from the carring amount of the bond. true/false

4, If coupon rate is higher than market interest rate staraight line amortization should be used. true/false

5, For the premium bond, effective and for discount bonds we must use straight line amortization method.true/false

6, In a effective method discount bond amortization, we are adding the same amortization amount to the carrying amount of the bond.true/false

7, A partnership has unlimited life. true/false

8, In a partnership, if investment is more than the share of the equity, this is a situation of

a, depends of the amount invested

b, bonus to old partners

c, none of them

d, bonus to new partner

9, Gross wages for payroll period $ 80,000

CPP deducted 900

EI deducted 1,500

Income taxes withheld 20,000

Medical insurance premiums withheld 2,000

In the journal entry EI payable is

10, Gross wages for payroll period $ 80,000

CPP deducted 900

EI deducted 1,500

Income taxes withheld 20,000

Medical insurance premiums withheld 2,000

In the journal entry Wage expense is