A random number should be used when order of processing requires knowledge of the sequence in which items enter the system or the order in which events unfold
Indicate whether the statement is true or false
FALSE
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When a company pays cash to redeem a interest-bearing-note, the transaction includes
a. debiting Cash and crediting Notes Payable. b. debiting Cash and Interest Expense and crediting Notes Payable. c. debiting Notes Payable and crediting Cash. d. debiting Cash and crediting Notes Receivable.
In a frequency distribution, two variables are considered at a time
Indicate whether the statement is true or false
In regard to strict liability in tort, which of the following is true in the case of a seller of used goods?
a. Sellers of used goods are not usually held strictly liable for goods sold. b. A seller of used goods is strictly liable for defective repairs made by the seller. c. A seller of used goods is usually held strictly liable only for inherently dangerous items such as power tools. d. A seller of used goods is usually held strictly liable only for inherently dangerous items such as power tools or for defective repairs made by the seller.
Big Data Enterprises borrows $10,000 from Creditworthy Loans, Inc, but cannot repay the loan when it comes due. Creditworthy refuses to ex-tend the time for repayment unless Big Data can provide an acceptable surety. Dependable Capital, LLC, agrees to
act as a surety for the loan af-ter Big Data offers Dependable a stake in the company and shows Dependable financial statements, compiled with Creditworthy's assistance, that misrepresent Big Data's financial situation. Later, Big Data again defaults on repayment of the loan, and Creditworthy files a suit against Dependable to collect the amount of the debt. Is Dependable liable? Why or why not?