For each of the following, state whether True orFalse:
If you repurchase stock at an amount less than its originalissue price, you can record a gain.
If you repurchase stock and then reissue it at a higher price,you can record a gain.
Interest expense is computed using the effective rate ofinterest, not the stated rate.
Cash interest paid is computed using the stated rate ofinterest, not the effective rate.
Non-interest-bearing notes payable have no interest expense.
