Question 20 A gain is earned when retiring bonds before their maturity date is recognized by O amortizing it over the remaining life of the bond. O reporting it as an ordinary item in the year of retirement. making a prior period adjustment. reporting it as an extraordinary item in the year of retirement.

A gain is earned when retiring bonds before their maturity date is recognized by amortizing it over the remaining life of the bond. reporting it as an ordinary item in the year of retirement. making a prior period adjustment. reporting it as an extraordinary item in the year of retirement