Bond, that have an option exercisable by theto retire them at a stated dollar amount prior to maturity are known as: A) Convertible bonds. B) Sinking fund bonds. C) Callable bonds. D) Serial bonds. E) Junk bonds. 2. Obligations to be paid within one year or the company's operating cycle, whichever is longer, are: A) current assets B) current liabilities C) earned revenues D) bills 3. Retained earnings A) Generally consists of a company's cumulative net income less any net losses and dividends declared since its inception. B) Can only be appropriated by setting aside a cash fund. C) Represent an amount of cash available to pay shareholders. D) Are never adjusted for anything other than net income or 4. In the balance sheet, the account. Premium on Bonds Payable, is A) added to bonds payable. B) deducted from bonds payable. C) classified as a stockholders' equity account. D) classified as a revenue account. 5. The date a cash dividend becomes a binding legal obligation to a corporation is the A) declaration date. B) earnings date. C) payment date. D) record date