Distinguish between the following values relative to bonds payable:
(a) Maturity value.
(b) Face value.
(c) Market (fair) value.
(d) Par value.
(a) Maturity value―the face value of the bonds; the amount which is payable upon maturity.
(b) Face value―synonymous with par value and maturity value.
(c) Market (fair) value―the amount realizable upon sale.
(d) Par value―synonymous with maturity and face value.
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