An investor purchases a $2-$year, $$1,000$ par value bond that pays semiannual interest of $$40.$ What is the present value of the bond if the market interest rate is $10\%($rounded to the nearest dolnr $)?$ :

A$)$ $$823$

B$)$ $$965$

C$)$ $$1,000$

D$)$ $$896$

Fragrant sold $$4,000$ worth of perfume to customers, of which $90\%$ paid in cash and the rest still owe. The cost of the perfume was $$1,000$ as has not been paid yet. All other operating costs incurred, totaling $$1,200,$ have been paid. How much does accruad basis net income differ from cash basis net income?: $*$

A$)$ They are the same.

B$)$ Accrual basis net income is $$600$ lower than cash basis income.

C$)$ Accrual basis nat income is $$600$ higher than cash basis income.

D$)$ Accrual basis net income is $$1,000$ lower than cash basis income.

Tildor lnc$.$ gathered the following cash flow information for the year:

Loss on sele of bulding $$5,000$ lssued common stock of TIdor Inc. $$7,000$ Proceeds trom sale of equipment $$13,000$ Cash dividends paid $$20,000$ Shares of Tilder repurchased $$40,000$

In the Statement of Cash Flows for this year, what amount should be reported as the net cash fow from financing activities?: $*$

A$)$ $$53,000$ outflow

B$)$ $$45,000$ outflow

C$)$ $$8,000$ inflow

D$)$ $$67,000$ outflow

$15.$ If a sale of merchandise on credit one day before year$-$end is not recorded in error, what is the impact of this error on the financial statements?: $*$

A$)$ Inventory is overstated

B$)$ Inventory is understated

C$)$ Sales is overstated

D$)$ Equity is overstated

$16.$ Kindore Co$.$ purchased $$100,000$ of $10\%$ bonds from Seldom Co$.$ on January $1,203,$ paying $$94,025.$ The bonds mature in ten years and pay interest semi$-$annue $y$ on Jul $1$ and January $1$ each year. The discount provides an effective interest yield of $11\%.$ Kindore Co$.$ uses the effective interest method and plans to hold these bonds to maturity. What is the interest revenue that Kindore Co$,$ should recognize in $203$ from Seldom Co bonds $($rounded to the nearest whole dollar$)?$: $"$

A$)$ $$10,352$

B$)$ $$10,800$

C$)$ $$10,000$

D$)$ $$9,658$

$17.$ The following information pertains to Lore Inc.$\text{'}$s defined benefit pension plan for the year:

Service Cost $$100,000$ Actual and expected gain on plan assets $$20,000$ Unexpected loss on plan assets $$30,000$ Amortization of unrecognized prior service cost $$12,000$ Annual interest on pension obligation $$50,000$

What amount should Lore Inc. report as pension expense in its income statement? : $*$

A$)$ $$212,000$

B$)$ $$192,000$

C$)$ $$112,000$

D$]$ $$142,000$