Question: The accounting for bonds payable is: a . Essentially the same under IFRS and GAAP. b . Differs in that GAAP requires use of the

The accounting for bonds payable is:

a. Essentially the same under IFRS and GAAP.

b. Differs in that GAAP requires use of the straight-line method for amortization of bond premium and discount.

c. The same except that market prices may be different because the present value calculations are different between IFRS and GAAP.

d. Not covered by IFRS

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