Southpoint is about to declare bankruptcy and has asked customers, owners, and coworkers to serve on a committee so that the concerns of all affected groups are heard. This follows the guidance of which procedure?
A. Consistency
B. Correctability
C. Ethicality
D. Bias suppression
E. Representativeness
Answer: E
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The difference between accrual-based revenue and accrual-based expenses is called _________________________
Fill in the blank(s) with correct word
On January 1, 2015, Chain, Inc issued $400,000, 10-year, 10% bonds for $354,200 . The bonds pay interest on June 30 and December 31 . The market rate is 12%. The interest expense on the bonds at June 30, 2015 is
a. $20,000 b. $24,000 c. $21,252 d. $17,710
________ is a promise to refrain from doing an unlawful act, and therefore is a promise that will not support a contract
A) Preexisting duty B) Illusory promise C) Illegal consideration D) Gift promise
The body of rules that must be followed and obeyed can also be referred to as:
A) the law. B) the equity. C) checks and balances. D) none of the above.