Observation suffers from which of the following limitations?
a. Observation of processing is rarely unobtrusive.
b. Observation of processing on one day does not necessarily indicate how transactions were processed on a different day.
c. All the above.
d. None of the above.
b
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The intent of the ______________________________ is to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes
Fill in the blank(s) with correct word
On December 31, Carmack Company's Prepaid Insurance account had a balance before adjustment of $6,000. The insurance was purchased on July 1 of the same year for one year of insurance coverage, with coverage beginning on that date. The adjusting entry needed on December 31 is:
A. Debit Insurance Expense $3,000; credit Prepaid Insurance $3,000. B. Debit Prepaid Insurance $6,000; credit Cash $6,000. C. Debit Insurance Expense $6,000; credit Accounts Payable $6,000. D. Debit Cash $6,000; credit Prepaid Insurance $6,000. E. Debit Insurance Expense $3,000; credit Accounts Payable $3,000.
The estimated maximum potential activity for a specified time is known as theoretical capacity
Indicate whether the statement is true or false
Stephanie purchased a corporate bond that matures in three years. The bond has a coupon interest rate of 9 percent and its yield to maturity is 6 percent. If market interest rates remain constant and Stephanie sells the bond in 12 months, her capital gain from holding the bond will be:
A. positive because she purchased the bond at a discount and the bond price will approach its face value as it nears its maturity. B. negative because she purchased the bond at a discount and the bond price will approach its face value as it nears its maturity. C. positive because she purchased the bond at a premium and the bond price will approach its market price as it nears its maturity. D. negative because she purchased the bond at a premium and the bond price will approach its face value as it nears its maturity. E. positive because she purchased the bond at a discount and the bond price will approach its market price as it nears its maturity.