When a company recognizes the portion of supplies used during a year, the effect is to decrease net income
a. True
b. False
Indicate whether the statement is true or false
True
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When a company discounts an interest-bearing note at a bank with recourse:
a. The company is assured payment at maturity. b. The company will receive the full amount of the note plus interest. c. The company has a contingent liability from the time the note is discounted until its maturity date. d. The bank assumes the credit risk on non-payment at the maturity date.
What is the empty shell?
You will write more creatively and efficiently if you edit while composing your first draft
Indicate whether the statement is true or false
The corporate form of business
a. was first known and used by the Greeks and then spread through the Romans to England. b. was not known until the advent of the Industrial Revolution. c. was first allowed in the State of New York around 1811 and is considered to be an American creation. d. is a relatively new concept developed shortly after the Great Depression.