When yields are above the coupon rate the price of a callable bond is dependent on _______ and when the yield is below the coupon rate the price is dependent on ________.

Which of the following statements is (are) true with respect to valuation impairments under the US
GAAP?
I). An asset is deemed as impaired if its book value exceeds its expected discounted cash flows.
II). The amount of the write-down is equal to the difference between the asset's book value and the present value of its expected cash flows even if the fair market value is available.
III). The amount of the write-down must appear on the income statement as part of continuing operations.
IV). Once the impairment has been eliminated, the asset's book value may be written back up again to better reflect economic reality.

Which of the following statement(s) is/are true?
I). If no errors are made in the daily recording of transactions, adjusting entries are unnecessary at the end of the period.
II). An adjusting entry to recognize wages payable at year-end causes a decrease in total assets.
III). An adjusting entry to recognize that an advance payment from a customer has now been earned will cause an increase in assets.
IV). Adjusting entries to accrue unrecorded expenses such as salaries and interest expense cause an increase in expenses and a corresponding decrease in assets.

According to IFRS, when a company sells property and then leases it back, any gain on the sale should usually be:

A standard normal distribution (Z-distribution) has: