Self-liquidating loans are mainly invested in productive assets (i.e., fixed assets) which provide the mechanism through which the loan is repaid

The Victor Corporation issues 1,000, 10-year, 8%, $1,000 bonds dated January 1, 2009, at 96. The journal entry to record the issuance will show a

A) debit to Cash of $1,000,000. B) credit to Discount on Bonds Payable for $40,000. C) credit to Bonds Payable for $960,000. D) debit to Cash for $960,000.

The stepping stone year is the first year before the explicit forecast period

Indicate whether the statement is true or false