When bonds become less widely traded, and as a consequence the market becomes less liquid, the demand curve for bonds shifts to the ________ and the interest rate ________
A) right; rises
B) right; falls
C) left; falls
D) left; rises
D
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Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to record the collection on account would be:
A. Debit Cash of $625 and credit Sales $625. B. Debit Cash of $625 and credit Accounts Receivable $625. C. Debit Accounts Receivable $625 and credit Sales $625. D. Debit Sales $625 and credit Accounts Receivable $625. E. Debit Accounts Receivable $625 and credit Cash $625.
Which of the following countries do not use a common law system?
a. The United States b. Germany c. The United Kingdom d. Both a and c are correct.
Fall Corp uses plant assets that are subject to rapid decreases in value due to obsolescence and physical deterioration. Which of the following depreciation methods is most appropriate to measure the decline in the usefulness of the company's assets?
a. Double-declining-balance b. Revenue expenditure method c. Straight-line d. Units-of-production
The matching concept states that expenses incurred to produce particular revenues should be matched with those revenues
Indicate whether the statement is true or false