Q: A long-term loan against which collateral has been pledged is known as

a) bank indebtedness.

b) Line of Credit.

c) Mortgage Payable.

d) Lease Liability.

Q: The proceeds from the sale of a bond are equal to

a) the face value of the bond.

b) the face value of the bond plus the present value of the interest to be paid.

c) the maturity value of the bond plus the interest to be paid.

d) the present value of the principal and interest to be paid.