Business, 14.06.2021 15:30 caroline5993
The city of williamsburg decided to defease old 6% bonds carried in its electric enterprise fund with new 4.5% bonds. As a result of the defeasance, the city incurred an accounting loss. This loss should be recognized:
a. As an adjustment to retained earnings since it is applicable to prior periods.
b. In the year of the defeasance.
c. Over the remaining life of the old bonds or the new bonds whichever is shorter
d. It should not be recognized
Answers: 3
Business, 22.06.2019 08:30
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Business, 22.06.2019 10:30
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Business, 22.06.2019 14:40
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The city of williamsburg decided to defease old 6% bonds carried in its electric enterprise fund wit...
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