When authorizing bonds to be issued the board of directors does not specify the
A) total number of bonds authorized to be sold.
B) contractual interest rate.
C) selling price.
D) total face value of the bonds.

Question

Quizplus · Accepted Answer

The board of directors typically specifies the total number of bonds authorized to be sold, the contractual interest rate, and the total face value of the bonds. However, they do not usually specify the selling price, as this can fluctuate based on market conditions at the time of sale.

When Authorizing Bonds to Be Issued the Board of Directors