The Mission of an organization is the shared beliefs, values, and attitudes among employees - also referred to as "how things are done around here."
Answer the following statement true (T) or false (F)
False
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Higher marginal income tax rates create an incentive for companies to underfund their pension plans.
Answer the following statement true (T) or false (F)
The gross profit percentage is one of the most carefully watched measures of ________.
A) profitability B) liquidity C) solvency D) marketability
Which approach is based on concern for specific individuals?
A. ethic of care B. utilitarianism C. justice as fairness D. none of these
On January 1, a company issues bonds dated January 1 with a par value of $310,000. The bonds mature in 5 years. The contract rate is 11%, and interest is paid semiannually on June 30 and December 31. The market rate is 12% and the bonds are sold for $298,594. The journal entry to record the first interest payment using the effective interest method of amortization is:
A. Debit Interest Expense $16,184; debit Discount on Bonds Payable $866; credit Cash $17,050. B. Debit Interest Expense $17,916; credit Premium on Bonds Payable $866; credit Cash $17,050. C. Debit Interest Payable $17,050; credit Cash $17,050. D. Debit Interest Expense $16,184; debit Premium on Bonds Payable $866; credit Cash $17,050. E. Debit Interest Expense $17,916; credit Discount on Bonds Payable $866; credit Cash $17,050.