Answer the following statements true (T) or false (F)
1. Checks can be cleared only through the Federal Reserve System.
2. Unfortunately, float is too complicated to be effectively managed through any combination of disbursement and collection strategies.
3. It is possible for companies to operate with negative cash balances on their books.
4. A lock-box system is a method of extending disbursements.
5. A lock-box is used to safeguard the corporation's marketable securities.
1. FALSE
2. FALSE
3. TRUE
4. FALSE
5. FALSE
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A salary owed to employees is an example of an accrued expense.
Answer the following statement true (T) or false (F)
Which of the following generally is considered a limitation of the balance sheet?
a. The balance sheet reflects the current value of a business. b. The balance sheet reflects the instability of the dollar. c. Balance sheet formats and classifications do not vary to reflect industry differences. d. Due to measurement problems, some enterprise resources and obligations are not reported on the balance sheet.
Casey uses extreme job hunting when she skateboards through a downtown business area carrying a banner with her job objective and Twitter address
Indicate whether the statement is true or false.
A writ of attachment is a court order that directs a sheriff to seize and sell the debtor's nonexempt property either at the time a lawsuit is filed or immediately afterward
Indicate whether the statement is true or false