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      Question

      Interest payable on the bondsย is a/an

      _________
      A Provision Correct Answer Incorrect Answer
      B Accrued expense Correct Answer Incorrect Answer
      C Accrued income Correct Answer Incorrect Answer
      D Prepaid expense Correct Answer Incorrect Answer
      E advance income Correct Answer Incorrect Answer

      Solution

      ย An accrued expense is one that is known to be due in the future with certainty. Interest payable on the bondsย is a known figure. It can be estimated well ahead of time, and money can be set aside for it.ย 

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