Many states impose no limit on the rate of interest which may be charged on loans to corporations

Indicate whether the statement is true or false


True

Business

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A voucher system's control over cash payments begins when a company incurs a liability that will result in eventual payment of cash. 

Answer the following statement true (T) or false (F)

Business

The groceries were purchased Friday night after I got off work

What will be an ideal response?

Business

Provide an explanation for each of the follow asset accounts

Account Name Explanation Accounts Receivable Prepaid Expense Notes Receivable What will be an ideal response

Business

Old Dominion Antiques Shop reported the following income statement and balance sheet for Year 1:During Year 1, the company's inventory turnover was 3.76 times and its average number of days to days to sell inventory was 97.1 days.Required:a) Determine the accounts receivable turnover ratio and the average number of days to collect accounts receivable.b) Determine the length of the operating cycle.(Round to one decimal place.)

What will be an ideal response?

Business