Answer:
The book value of the bond liability as of June 30, 2019 is:
$401,800
Explanation:
The face value of the bond issued is $401,800
The issue price = $416,753
Bond premium = $14,953
This bond premium will be amortized for 10 years semi-annually using the effective-interest method.
However, as of June 30, 2019, no bond has been repaid, since its maturity is after 10 years. Therefore, the liability on the bond remains the amount of the face value of the bond, which is $401,800.
The buyer relies upon this information and moves forward with the purchase of the home. This is an example of Innocent misrepresentation.
<h3>
What Is Innocent Misrepresentation?</h3>
Misrepresentation in general is a legal term that means “a false statement of fact that has the effect of inducing someone into a contract.” It originates from English common law, but has been adopted as a legal principle in the United States. It is a statement that is either untrue, or highly misleading (as opposed to a statement of opinion).
Innocent misrepresentation is one of the three recognized varieties of misrepresentations in contract law. Essentially, it is a misrepresentation made by someone who had reasonable grounds for believing that his false statement was true. So in the above example, if the seller didn’t know the stereo was actually old, he would only be liable for an innocent misrepresentation.
In the real world, however, it is often the case that because the other two varieties of misrepresentation (negligent and fraudulent) are much more difficult to prove, often this is the best course of action.
Learn more about Misrepresentation on:
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Answer:
$1,245,000
Explanation:
The computation of the amount reported as the pension liability is shown below:
= Ending balance of Projected benefit obligation - Fair value of pension plan assets
= $3,760,000 - $2,515,000
= $1,245,000
We simply deduct the fair value from the ending balance of projected benefit obligation that the amount reported could be come
The correct option is A. Knowing students' general intelligence score can be helpful to teachers in planning lessons; the teachers would be able to discuss different topics in class and assign works to students based on their intelligence level. This generally will makes teaching effective and help to carry along all the students in the class.
