A bank is notobligated to pay an uncertified check presented less than six months from its date
Indicate whether the statement is true or false
False
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Tina purchases a personal residence for $278,000, but subsequently converts the property to rental property when its FMV is $275,000. Assume depreciation of $65,000 has been deducted after conversion to rental use. If Tina sells the property for $200,000, her realized gain or loss will be
A. ($78,000) loss. B. ($13,000) loss. C. ($10,000) loss. D. ($75,000) loss.
An adjusting entry was made on year-end December 31 to accrue salary expense of $1900. Assuming the company does not prepare reversing entries, which of the following entries would be prepared to record the $4400 payment of salaries in January of the following year?
A.
| Salaries Payable | 1900? | |
| Cash | 1900? |
B.
| Salaries Payable | 4400? | |
| Cash | 4400? |
C.
| Salaries Payable | 1900? | |
| Salaries Expense | 2500? | |
| Cash | 4400? |
D.
| Salaries Expense | 4400? | |
| Cash | 4400? |
E.
| Salaries Expense | 1900? | |
| Salaries Payable | 1900? |
A typical project stays within functional and organizational boundaries
Indicate whether the statement is true or false
If it is hard to determine whether a contract is unilateral or bilateral, what does the law presume?