Reversing entries overcome the disadvantage of more complex entries to pay accrued liabilities from the previous accounting period.

Answer the following statement true (T) or false (F)


True

Business

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Ads featuring underwear, condoms, and feminine hygiene products may be offensive to some, which has led to regulations restricting when and where the ads can be placed

Indicate whether the statement is true or false

Business

On December 1, 2016, Old Car Co borrowed money at the bank by signing a 90-day non-interest-bearing note for $24,000 that was discounted at 8%. Which of the following entries is correct?

A) March 1, 2017Note Payable 23,520Cash 23,520 B) December 31, 2016Interest Expense 160Interest Payable 160 C) December 1, 2016Cash 24,000Note Payable 24,000 D) December 31, 2016Interest Expense 160Discount on Notes Payable 160

Business

Negotiating parties always negotiate by ________.

Fill in the blank(s) with the appropriate word(s).

Business

The results obtained from a classification matrix based on the analysis sample are invariably better than leave-one-out classification or the classification obtained on the holdout sample

Indicate whether the statement is true or false

Business