Which of the following is true regarding accounting for amortization of bond discount and premium?
A) GAAP is required to use the straight-line method.
B) IFRS is required to use the effective-interest method.
C) GAAP must use the effective-interest method, but IFRS may use either the effective-interest method or the straight-line method.
D) Both IFRS and GAAP must use the effective-interest method.
Correct Answer:
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