Asked by
Samantha Allen
on Nov 15, 2024
Verified
Discount on Bonds Payable is a:
A) contra-asset account.
B) contra-liability account.
C) liability account.
D) None of these answers is correct.
Contra-Liability Account
An account on a company's balance sheet that reduces the amount of a liability, serving as a negative balance to that liability.
- Grasp the consequences of assorted amortization applications on the cost related to bond interest and the valuation at which bonds are carried.
Verified Answer
LP
Learning Objectives
- Grasp the consequences of assorted amortization applications on the cost related to bond interest and the valuation at which bonds are carried.
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