On July 9, Mifflin Company receives a $9200, 90-day, 8% note from customer Payton Summers as payment on account. Compute the amount due at maturity for the note and interest. (Use 360 days a year.)
A. $9200
B. $9384
C. $9323
D. $8867
E. $9339
Answer: B
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Why are overstated reserves sometimes referred to as "cookie jar" reserves?
a. Companies involved in mergers or acquisitions overstate their liabilities by creating cookie jar reserves. b. The reserve is commonly created during bad times or when routine senior management changes occur. c. Some companies may require customers to make deposits for future goods or services that can be intentionally recorded as revenue, which is like money stored in a cookie jar. d. Like money stored in a cookie jar, overstated revenues represent a stash of accounting earnings that can be used to bolster the perceived performance of the company in the future.
The net amount of a bond liability that appears on the balance sheet is the
a. call price of the bond plus bond discount or minus bond premium. b. face value of the bond plus related premium or minus related discount. c. face value of the bond plus related discount or minus related premium. d. maturity value of the bond plus related discount or minus related premium.
Which of the following is the process by which employees communicate with others who are higher in the organizational hierarchy?
A. upward communication B. downward communication C. lateral communication D. brownnosing
Social networks provide marketers with ways to have online conversations with loyal customers
Indicate whether the statement is true or false