When the price of a bond is below the face value, the yield to maturity:

Refer to Scenario 18.1. When Curly made the loans to Moe, Larry, and Shemp, there were 500 coins' worth of receipts, so in total, the receipts were ________ backed by gold

A) 20% B) 40% C) 50% D) 100%

Single-owner proprietorships often unintentionally exaggerate their profits because they

A) forget their explicit losses. B) look at after-tax instead of pre-tax costs. C) pay their bills late and therefore incur large interest charges. D) neglect to consider the opportunity cost of the owner's labor.