20. On January 1, 2007, the Queen Corporation Issued 10 % bonds with a face value of $100,000. The bonds are sold for $98,000, The bonds pay Interest semlannually on June 30 and December 31 and the maturity date is December 31, 2011. Queen records straight-line amortization of the bond discount. The bond Interest expense for the year ended December 31, 2007, is a. $9,600 b. $9,800 c. $10,400 d. $10,200 21. The budgetary unit of an organization which is led by a manager who has both the authority over and responsibilty for the unit's performance is known as a: a. control center b. budgetary area c. responsibillity center d. managerial department 22. A formal written statement of management's plans for the future, expressed In financial terms, is a: a. gross profit report b. responsibillty report c. budget d. performance report 23. An analysis of a proposal by the net present value method Indicated that the present value of future cash inflows exceeded the amount to be invested. Which of the following statements best describes the results of this analysis? a. The proposal is desirable and the rate of return expected from the proposal exceeds the minimum rate used for the analysis. b. The proposal is desirable and the rate of return expected from the proposal Is less than the minimum rate used for the analysis. The proposal is undesirable and the rate of return expected from the proposal Is less than the minimum rate used for the analysls. c PEED THIS DIRECTION