"the effective interest method calculates bond interest expense by multiplying the carrying value of the bonds at the beginning of the period by the stated rate of interest." true or false?

False

Explanation:

Effective interest rate is calculated as the interest earned on the book value, by calculating interest earned on face value at the stated rate.

As for example, if stated rate = 5% and face value of bond = $100,000 and it costed $96,000 then,

Carrying value or book value = $96,000

Interest earned = $100,000 5% = $5,000

Effective interest rate = $5,000/$96,000 = 5.208%

Thus, bond interest expense is calculated on face value that is $100,000.

Therefore, the statement is

False

d) social security number

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