III. Ch. 14&17: Identify whether each of the following statements is True or False. Part A: 1. Losses from extinguishment of debt should be amortized over the remaining life of the debt. 2. The straight-line method of amortization should be used for bonds due in less than five years. 3. Bonds that mature on a single date are called serial bonds 4. The effective interest is calculated by multiplying the maturity value of the bond by the coupon rate. 5. A bond premium represents a reduction of interest expense on the books of the 6. When the contract or coupon rate is greater than the effective rate, the bonds ssuer. will sell at a premium