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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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What is a bond? Define face value, maturity date, contract rate, bond and bond indenture.

To determine

State the meaning of bond and define the meaning of face value, maturity date, contract date, bond certificate and bond indenture.

Explanation

Bonds:

Bonds are long-term promissory notes that are issued by a company while borrowing money from investors to raise fund for financing the operations.

Face value:

Face value is the initial nominal values for which the shares are newly issued and it is the amount of money paid by the issuer at maturity.

Maturity date:

Maturity date is the due date on bond. On due date, the issuer is supposed to pay the face value of the bond, along with interest...

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