Which of the following is true regarding accounting for amortization of bond discount and premium? (a) Both
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Which of the following is true regarding accounting for amortization of bond discount and premium?
(a) Both IFRS and GAAP must use the effective-interest method.
(b) GAAP must use the effective-interest method, but IFRS may use either the effective-interest method or the straight-line method.
(c) IFRS is required to use the effective-interest method.
(d) GAAP is required to use the straight-line method.
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Related Book For 
Financial Accounting
ISBN: 9781119298229,9781119305842
10th Edition
Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
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