Early Extinguishment of Debt

Multiple Choice

Early extinguishment of debt

A) is not allowed by the FASB during the first 2 years bonds are outstanding
B) will never have related gains or losses recorded on the books.
C) occurs when the issuer redeems its own bonds by purchases on the open market or by exercising their rights to redeem callable bonds.
D) is not permitted.
E) is permitted only in the banking industry.