When a bank collects a notes receivable, it notifies the payee that the net amount has been added to the payee's account by using a credit advice
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
U.S. GAAP and IFRS distinguish between revenues and expenses on the one hand and gains and losses on the other. Which of the following is/are true?
a. Revenues and expenses result from the recurring, primary operating activities of a business. b. Income items include the ordinary, recurring operating activities of the firm. c. Gains and losses result from either peripheral activities or nonrecurring activities. d. The reporting of revenues and expenses are at gross amounts, and firms report gains and losses at net amounts. e. all of the above
Advocates of the promotion of the maximization of consumer welfare using market principles and efficiency criteria define consumer welfare as an improvement in the allocation of resources without an impairment to productive efficiency
Indicate whether the statement is true or false
How often are longer-term securities auctioned?
A. monthly B. every six months C. every two years D. annually E. weekly
Which of the following statements is true regarding oligopolistic? competition?
A. Each seller is alert and responsive to? competitors' pricing strategies and marketing moves B. The market consists of many large sellers. C. Many buyers and sellers trade a uniform commodity. D. The market is dominated by one seller. E. The market consists of many buyers and sellers trading over a range of prices.