A(n) ________ is an action or event that relieves certain parties from liability on negotiable instruments
A) presentment
B) discharge
C) accommodation
D) breach of contract
B
You might also like to view...
Which of the following statements is true?
a. Investments in commercial paper or U.S. Treasury bills must be treated as cash equivalents. b. Investments in stock cannot be treated as cash equivalents because they are not convertible into a known amount of cash. c. Investments which are convertible into a known amount of cash and mature within three months after the balance sheet date are treated as cash equivalents. d. Investments in money market accounts cannot be treated as cash equivalents because they do not have a specific maturity date.
Before developing a presentation, the speaker should analyze the audience and tailor the presentation to the audience’s needs.
1.Practice audiences should be critical when giving feedback to your presentation. 2.People don’t really fear public speaking; they fear the unknown. 3.An adrenaline rush creates energy that manifests in a variety of ways. 4. When giving a presentation, one of the biggest mistakes you can make is boxing yourself into a small space. 5. A speaking rate slightly slower than average may actually be preferred.
The general ledger account for Accounts Receivable shows a debit balance of $25,000 . Allowance for Uncollectible Accounts has a credit balance of $1,500 . Net sales for the year were $250,000 . In the past, 3 percent of sales have proved uncollectible, and an aging of accounts receivable resulted in an estimate of $10,000 of uncollectible accounts receivable. Using the percentage of net sales
method, the entry to record the Uncollectible Accounts Expense is: a. Uncollectible Accounts Expense 6,000 Allowance for Uncollectible Accounts 6,000 b. Uncollectible Accounts Expense 7,500 Allowance for Uncollectible Accounts 7,500 c. Uncollectible Accounts Expense 9,000 Allowance for Uncollectible Accounts 9,000 d. Uncollectible Accounts Expense 10,000 Allowance for Uncollectible Accounts 10,000
Once the useful life of a depreciable asset has been estimated and the amount to be depreciated each year has been determined, the amounts can not be changed
Indicate whether the statement is true or false