Answer the following statements true (T) or false (F)
1. The journal entry to record $200,000 of bonds that were issued at 98 would include a credit to Premium on Bonds Payable of $4,000
2. Accounts Payable is generally listed first under long-term debt.
3. Contingent liabilities pose an ethical challenge because they're based on past events, they are easier to manipulate.
4. Having liabilities classified incorrectly will have a big impact on the company's current ratio.
5. Proper classification of liabilities can pose an ethical challenge, since it might be tempting to manipulate them in order to make the business appear more profitable.
1. FALSE
2. FALSE
3. FALSE
4. TRUE
5. TRUE
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The use of soft power results in commitment and a strong willingness to be influenced, whereas the use of hard power results in followers who ______.
a. resist b. comply c. submit d. does their best
The iceberg metaphor shows that many customers try to negotiate on price because:
A) price is often inflated to attempt to maximize profits for the company B) price is the most easily quantifiable characteristic of any product C) they were trained to negotiate on price and price alone D) they feel that they are not fulfilling their duties as buyers if they do not attempt to get lower prices E) they do not realize that other factors, such as service and terms, can be more important to long-term satisfaction
A few research studies about biases and evaluation of customer service concluded that
A) customers tend to be biased in their evaluation of services provided. B) most customers can control their biases. C) customers prefer to be served by workers from a different demographic group. D) services provided by women and nonwhite employees received the highest evaluations.
For consideration to have "legally sufficient value," it must con-sist of goods or money
Indicate whether the statement is true or false