True or False Questions

Q24 Callable bonds can be redeemed by the issuing corporation at the fair market price of the bonds

Q28 If bonds of $1,000,000 with unamortized discount of $10,000 are redeemed at 98, the gain on redemption of bonds is $10,000

Q29 Discount on Bonds Payable is a contra liability account Q31 The interest portion of an installment note payment is computed by multiplying the interest rate by the carrying amount of the note at the end of the period