Which of the following statements correctly describes the accounting for bonds that were issued at their face (maturity) value?
O The book value of the bond liability decreases when interest payments are made on the due dates.
O The market rate of interest equals the coupon rate.
O The interest expense over the life of the bonds will be greater than the total cash interest payments.
O The present value of the bonds' future cash flows is less than the bonds' maturity value.