In preparing statements from the adjusted trial balance, the balance sheet must be prepared first.
Answer the following statement true (T) or false (F)
False
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What is the adjustment entry for that portion of revenue received in advance which has now been earned?
a. Unearned Revenue – Debit; Cash – Credit. b. Unearned Revenue – Debit; Revenue from Services – Credit. c. Revenue from Services – Debit; Unearned Revenue – Credit. d. Cash – Debit; Unearned Revenue – Credit.
If 10-year T-bonds have a yield of 6.2%, 10-year corporate bonds yield 8.5%, the maturity risk premium on all 10-year bonds is 1.3%, and corporate bonds have a 0.4% liquidity premium versus a zero liquidity premium for T-bonds, what is the default risk premium on the corporate bond?
A. 1.90% B. 2.09% C. 2.30% D. 2.53% E. 2.78%
Which of the following statements about sales training is true?
A. An understanding of sales training is only gained through the company's formal training program. B. Sales knowledge gained from sales training benefits not only the salesperson and the company but also the customer. C. Periodic sales training is intended to keep salespeople humble and aware of their shortcomings. D. Sales training is irrelevant once a salesperson receives the designation of "master sales representative." E. Sales training ends when the salesperson actually begins the selling job.
There are at least three types of partnerships that limit the partners' liability.
They are 1)________, 2) ________, and 3)________.