Which of the following statements is true of an arbitrator?
A) An arbitrator must have a background in law.
B) An arbitrator is usually assigned by a court.
C) An arbitrator has no say on the substantive and procedural rules to be followed.
D) An arbitrator's decision is called an award.
D
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Which of the following correctly describes the accounting treatment for interest payable?
A) It is shown on the balance sheet as a current liability. B) It is shown on the income statement as an operating expense. C) It is shown on the balance sheet as a current asset. D) It is shown on the balance sheet as a long-term liability.
Rapp Corporation purchases 75 percent of the stock of Sikora Corporation for $363,000 . Sikora has contributed capital of $200,000 and retained earnings of $284,000 . The consolidated financial statements will contain
a. minority interest and negative goodwill. b. neither minority interest nor goodwill. c. goodwill but not minority interest. d. minority interest but not goodwill.
Sanctions by the West on Russia may
A. lead to collaborations between EU and Russian businesses, especially in the energy sector. B. isolate Russian businesses and limit their access to international capital. C. create positive PR about the safety of Russia for foreign operations. D. support the international growth of Russian business.
When the market rate of interest was 11%, Munson Corporation issued $1,000,000, 12%, 8-year bonds that pay interest semiannually. The selling price of this bond issue was
A) $1,052,310 B) $1,154387 C) $1,000,000 D) $ 720,495