6. Accumulated rights exist when an employer has an obligation to make payment to an employee even after terminating his employment. a. True b. False 7. If a long-term note payable has a stated interest rate, that rate should be considered to be the effective rate. a. True b. False 8. A bond may only be issued on an interest payment date. a. True b. False 9. A corporation is incorporated in only one state regardless of the number of states in which it operates. a. True b. False 10. True no-par stock should be carried in the accounts at issue price without any additional paid-in capital reported a. True b. False