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Which of the following statements about bonds is not correct? A bond arises from a contract known as a bond indenture. Bonds payable represents a

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Which of the following statements about bonds is not correct? A bond arises from a contract known as a bond indenture. Bonds payable represents a promise to pay a sum of money plus periodic interest. Bonds usually pay interest annually. Each bond typically has a $1,000 face value

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