Which of the following statements regarding the effective$-$interest method of amortization is incorrect?

Multiple Choice

The amount of discount or premium, on which amortization is calculated, increases each period.

The total interest expense over the life of a bond is the same as that reported under the straight$-$line method of amortization.

The effective$-$interest method is one of the options allowed by generally accepted accounting principles for all bond issues.

$$ The amount of interest expense is different each period.

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