When a note is received from a customer to obtain an extension of time for payment on a past-due account, the journal entry would include
a. debiting Accounts Receivable and crediting Notes Receivable; b. debiting Accounts Payable and crediting Notes Payable; c. debiting Notes Payable and crediting Accounts Payable; d. debiting Notes Receivable and crediting Accounts Receivable; e. none of these
D
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The Consumer Trade Commission focuses mainly on protection of consumers in the area of antitrust law
a. True b. False Indicate whether the statement is true or false
Diversity training focuses on identifying and reducing hidden biases against people with differences.
Answer the following statement true (T) or false (F)
A convertible bond has a par value of $1,000, but its current market price is $95. The current price of the issuing company's stock is $26, and the conversion ratio is 34 shares. The bond's market conversion value is _________.
A. $1,000 B. $884 C. $933 D. $980
Which of the following are the two pervasive judicial doctrines that often limit the taxpayer's ability to employ effective planning techniques?
a. the progressive tax rate requirement and marginal rates b. business purpose and substance over form c. business purpose and changing tax jurisdiction d. all of these are judicial doctrines that limit effective tax planning