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A $20 million, 20 year term bond issued in 1982 is coming due in 2002, i.e., the entire principal is payable at the maturity date in 2002. At the end of the calendar and fiscal year 2001, how will this bond be disclosed?

A. As a $20 million long-term liability. B. As a $20 million current liability. C. As a $1 million current liability and zero in long-term liabilities. D. As a $1 million long-term liability.

The purpose of a mortgage is to

A) provide security for a loan. B) convey title of the property to a lender. C) restrict the borrower's use of the property. D) create a lien on the property.