On the day of issuance of bonds,the proceeds to the issuer may be above par or below par,depending on market conditions.If the proceeds are above par,the bonds have been sold at a discount.

Question

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If the proceeds are above par, then the bonds have been sold at a premium, not a discount. If the proceeds are below par, then the bonds have been sold at a discount.

On the Day of Issuance of Bonds,the Proceeds to the Issuer