Which of the following happens when an economy is in a trough?
A. Income begins to rise.
B. Output begins to fall.
C. Employment begins to fall.
D. Population growth rate begins to rise.
Answer: A
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When your company buys computer supplies and receives an invoice that states “2/10 net 30” it has received _________________________ which is a form of short-term debt financing.
Fill in the blank(s) with the appropriate word(s).
Miguel reprogrammed a smartphone so that it intercepted electronic funds transfers and rerouted them to his bank account. What crime has he committed?
A. insurance fraud B. wire fraud C. mail fraud D. embezzlement
Answer the following statements true (T) or false (F)
1. Accounts Receivable may be reported net of Allowance for Doubtful Accounts. 2. TLR Productions reports a balance of $2,000 in the Allowance for Doubtful Accounts and $22,000 in Accounts Receivable. On the balance sheet, the net realizable value reported for Accounts Receivable is $24,000. 3. A promissory note is a verbal promise to pay a specified amount of money on a particular future date. 4. The business or person that signs the promissory note and agrees to pay the required amount is called the payee. 5. The amount loaned out by the payee is called the maturity value.
Readjustment-period needs typically last about one month
a. True b. False