A debt backed by some form of specific property is known as a:
A. debenture.
B. mortgage bond.
C. subordinated debt.
D. U.S. government bond.
E. general obligation municipal bond.
Answer: B
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Which of the following is an inside force for change?
A. domestic competition B. recession C. advancements in automation D. immigration E. low productivity and turnover
Using the estimate based on sales method of accounting for uncollectible accounts, the entry to reinstate a specific receivable previously written off would include a
A) credit to Bad Debt Expense B) credit to Accounts Receivable C) debit to Allowance for Doubtful Accounts D) debit to Accounts Receivable
Two independent clauses joined together with no punctuation create a ________
A) run-on B) comma splice C) compound sentence D) complex sentence
When the total variable costs are deducted from total mixed costs, we obtain ________
A) mixed cost per unit B) variable cost per unit C) total high-low costs D) total fixed costs