Secured bonds are:

Question 35 options:

A)	also called mortgage bonds.

B)	also called serial bonds.

C)	bonds that give the bondholder the right to take specified assets of the issuer in the event the issuer fails to pay interest or principal.

D)	also called mortgage bonds and bonds that give the bondholder the right to take specified assets of the issuer in the event the issuer fails to pay interest or principal.

If, as part of the accounting for a lease, the lessee debits an asset and credits a liability, then the lease must be a(n):

Question 37 options:

A)	finance lease.

B)	operating lease less than one year.

C)	operating lease greater than one year.

D)	finance lease and operating lease greater than one year.

When an intangible asset is amortized:

Question 40 options:

A)	stockholders' equity decreases.

B)	net income decreases.

C)	net assets decrease.

D)	All of these are correct.

Corrao Foods Corporation has 6000 shares of 6%, $30 par value, cumulative preferred stock and 150,000 shares of $1 par value common stock outstanding at December 31, 2019 and December 31, 2020. In 2019, a $1000 dividend was declared and paid. In 2020, $33,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2020 (assuming no dividends in arrears prior to 2019)?

Question 43 options:

A)

$20,600

B)

$10,800

C)

$33,000

D)

$21,600