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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Installment bonds differ from typical bonds in what way?

  1. Essentially they are the same.
  2. The entire principal balance is paid off at maturity for installment bonds.
  3. Installment bonds do not have a stated rate.
  4. A portion of each installment bond payment pays down the principal balance.

To determine

Concept introduction:

Bonds Payable:

Bonds payable represents the large-scale loan taken by the business for a major capital requirement. Bonds payable are issued to the public for raising the funds. Bonds are issued in the form of securities and bonds are highly regulated form of debt.

To choose:

The correct Statement about installment bonds.

Explanation

Explanation for correct answer:

Under the installment bonds, installments are paid regularly to pay off the principal and interest part. A portion of each installment bond payment pays down the principal balance

Hence the correct option is d.

Explanation for incorrect answers:

a. Installment bonds and typical bonds are not same...

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