In a troubled debt restructuring, the restructured loan can differ from the original loan in any of the ways listed below except:

Multiple Choice

• The repayment schedule is shortened and the interest rate is significantly increased.

• Scheduled interest and principal payments may be reduced or eliminated.

• The customer and lender can settle the loan.

• The repayment schedule may be extended over a longer time period.

Which of the following characterize(s) financial statement notes?

Multiple Choice

• They explain specific financial statement amounts.

• They provide extensive additional information.

• They pertain to the financial statements as a whole.

• All of these are characteristics of financial statement notes.