Multiple Choice
At the end of 2014, interest on a perpetual loan is paid to the holder.The perpetual debt is shown as an equity instrument.Based on the above the interest is:
A) Added for income tax purposes
B) Deducted on the income statement
C) Added to the statement of retained earnings
D) Deducted on the statement of retained earnings
Correct Answer:
Verified
Correct Answer:
Verified
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