The standard policy provision which prevents an insurance company from rescinding a policy for misstatements on the application after two years is:

The human components, such as procedures and people, are affected by language and culture

Indicate whether the statement is true or false

Solderman Company issued $460,000, 8%, 10-year bonds for $442,800 with a market rate of 10%. The effective-interest method of amortization is to be used and interest is paid annually

The journal entry on the first interest payment date would include a: A) credit to Interest Expense of $36,800. B) credit to Cash of $44,280. C) credit to Discount on Bonds Payable of $7480. D) credit to Interest Expense of $7480.