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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Financial And Managerial Accounting

ISBN: 9781118004234

1st Edition

Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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Question Posted: Feb 15, 2024 09:00 AM

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Which of the following is true regarding accounting for amortization of bond discount and premium? (a) Both

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Financial And Managerial Accounting

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