If a contract term is ambiguous, a court can consider outside evidence
Indicate whether the statement is true or false
True
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On January 1, 2016, Tessa loaned $12,000 to another company on a three-year, 4% note. No interest was accrued in 2016. Cash will not be received for the interest until the end of the three-year period. The error was discovered before adjusting and closing entries were posted on December 31, 2017. Ignoring income taxes, what should be the correct journal entry on December 31
A) Interest Receivable 480Retained Earnings 480 B) Interest Receivable 960Interest Revenue 960 C) Interest Receivable 480Interest Revenue 480 D) Interest Receivable 960Interest Revenue 480Retained Earnings 480
A ________ sales force consists of manufacturers' reps, sales agents, and brokers who earn a commission based on sales
A) virtual B) domestic C) contingent D) contractual E) decentralized
Miami Corp. has an operating income of $120,000, average invested assets of $600,000, and a cost of capital of 7%. What is the residual income?
A. $78,000 B. $42,000 C. $166,667 D. $100,000
How would one classify our perception of how fairly we are being treated in comparison with others?
What will be an ideal response?