Determines an assets useful life and salvage value

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Reference no: EM131222855

1. Which of the following statements is true of a bond that is issued at a premium?

A) It will be sold above par.

B) Its stated interest rate is lower than the prevailing market rate.

C) It will repay a greater amount than the face value at maturity.

D) It will be sold at par.

2. After a firm determines an asset’s useful life and salvage value, can they be changed? Explain

3. For a long-lived operating asset acquired by issuing a note payable, do firms measure the initial carrying value of the asset by the face value of the note? Explain.

Reference no: EM131222855

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