Which of the following transactions involves an accrued asset?
a. Wages earned by employees but not yet paid
b. Rent collected in advance from a tenant
c. Rent owed by a tenant but not yet collected
d. One year's premium on life insurance policy paid in advance
c
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Debits to Factory Overhead represent
a. overhead applied to Work in Process Inventory; b. actual overhead cost; c. overhead applied to Cost of Goods Sold; d. overhead applied to Finished Goods; e. the cost of sales
In SPIN selling, problem questions are designed to get the buyer thinking about the value of finding a solution to the problem.
Answer the following statement true (T) or false (F)
________, in the trait approach to leadership, is the correspondence between actions and words.
A. Integrity B. Punishment C. Positive reinforcement D. Initiative E. Extinction
In Basse and Selve v. Bank of Autralasia, the seller submitted a phony sample of ore to an inspection company to obtain a Certificate of Analysis showing high- grade ore. On the basis of the certificate, the seller paid for the documents and took delivery of the ore. The ore turned out to be worthless. The court ruled that: A) the bank had an obligation to inspect the ore before paying for the
documents on behalf of the buyer. B) the buyer had a cause of action against the chemist for fraud. C) the bank had acted properly in paying the seller even though the ore did not conform to the contract because the certificate was regular on its face. D) the bank had acted properly in paying the seller because the bill of lading was negotiable.