On LinkedIn, you can build a network from people ____.
A. in your e-mail address book
B. current and past colleagues
C. former classmates
D. all of the above
Answer: D
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What would be the adjusting entry for a note payable whose interest is not included in the face amount of the note?
A) Debit Interest Receivable and credit Interest Income. B) Debit Interest Expense and credit Cash. C) Debit Interest Expense and credit Interest Payable. D) Debit Cash and credit Notes Payable.
Which of the following statements regarding the application of the lower-of-cost-or-market method is true?
A) Generally, historical cost is lower than the market value so the lower-of-cost-or-market rule is applied. B) When the lower-of-cost-or-market method is used, inventories are valued at their selling price. C) The lower-of-cost-or-market method is most commonly applied on a total inventory basis because it is a more conservative approach. D) The lower-of-cost-or-market method is an exception to the historical cost principle.
Derrick buys a CD, but after listening to it, decides he doesn't like the music. May he legally sell the CD to someone else? If he thinks his cousin would enjoy the music, may he legally copy the CD for her?
Which of the following is not true about fixtures?
A) A real property contract must list the fixtures to be included in the sale in order for them to be part of the sale. B) Fixtures usually were personal property prior to becoming a fixture. C) An item, such as a shelving unit, might be a fixture in some buildings, but not in others. D) Factors considered in whether something is a fixture include the intent of the person who attached it and whether damage would be done to the building upon the item's removal.