Question
43) Penelopes Pizza Parlors is expanding from New Brunswick to all 50 states. To do so it issued a bond and also borrowed from a
43) Penelopes Pizza Parlors is expanding from New Brunswick to all 50 states. To do so it issued a bond and also borrowed from a number of banks. Which is correct?
Group of answer choices a) The bond and the bank loans are both Penelopes assets
b) The bond and the bank loans are both Penelopes liabilities
c) The bond is Penelopes asset while the bank loans are Penelopes liabilities
d) The bond is Penelopes liability while the bank loans are Penelopes assets
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
978-0071051507
