Which of the following statements is correct?
A) IFRS requires the effective-interest method to be used to amortize bond premiums and discounts; ASPE permits either the effective-interest method or the straight-line method.
B) ASPE requires the effective-interest method to be used to amortize bond premiums and discounts; IFRS permits either the effective-interest method or the straight-line method.
C) Both IFRS and ASPE require the effective-interest method to be used to amortize bond premiums and discounts.
D) Both IFRS and ASPE permit either the effective-interest method or the straight-line method to be used to amortize bond premiums and discounts.
Correct Answer:
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