Question 26 (1 point) ) Listen When an organization issues bonds they must: state the number of bonds to be authorized state the total face value of the bonds state the contractual interest on the bonds all of the above a and b only Question 27 (1 point) Listen In a market with rising prices, the type of inventory calculation that would give the lowest ending inventory would be: OLIFO FIFO The average cost method Inventory segregation Question 28 (1 point) Listen A piece of equipment was purchased three full years ago for $60 000. This equipment is to be depreciated at a rate of 15% using the declining balance method. The net book value at the end of the first year would be: $42,500 $51,000 $50,000 $33,333Question 29 (1 point) Listen During 20xx, a business purchased $1,000 of supplies. It had begun the year with $500 of supplies on hand. If the business' income statement indicates a supplies expense of $1,200, then the unused supplies balance at year-end must have totalled: 300 O 700 1,000 1,700 Question 30 (1 point) Listen A company has a current ratio of 8:1, this means O The company will have trouble paying off long-term liabilities The company has too little current assets to cover current liabilities The company has the appropriate amount of current assets The company has too many current assets that are not being used effectively Question 31 (1 point) Listen At December 31, 2020, The Fitness Company showed a current liability for unearned fees of $400. During 2021, the company received $2,100 cash for fees. On December 31, 2021, the current liability for unearned fees was $200. The 2021 Income Statement would show earned fees of $1,900. True False