Select the best answer from the list below to complete statements that follow.

amortization long-term callable loss contra liability market face value present value discount premium

1. All liabilities that are not classified as current liabilities are classified as_____________

. 2. The denomination or principal amount of the bond is usually referred to as the___________

. 3. Bonds that may be retired by the issuing company before their specified due date are________________

. 4. The________________ rate of interest is the rate that bondholders could obtain by investing in other bonds that are similar to the issuing firm's bonds.

5. The bond issue price equals the _______________of the cash flows that the bond will produce.

6. Bonds were issued at a(n)________________ when the issue price exceeds the face value.

7. Discount on Bonds Payable is shown on the balance sheet as a(n) ________________

. 8. If the market rate of interest is greater then the face rate, then the bonds are issued at a(n) ________________________.

9. ____________________is the process of transferring an amount from the bond discount or premium to interest expense each time period to adjust interest expense.

10. When a bond is retired early and the redemption price is greater than the bond's carrying value, there will be a(n) ______________________ on redemption.