For an accord and satisfaction to occur, the amount of a debt must not be in dispute
Indicate whether the statement is true or false
False
You might also like to view...
On December 31, 2013, Manny Ltd. owes Stew Corp $50,000 on a 10% note payable. Two years of interest is also unpaid and due. Manny cannot pay off the debt. Stew agrees to reduce the principal amount to $30,000, forgive the accrued interest owed, extend the due date to December 31, 2016, and reduce the interest rate to 5% per year for the extended period. What amount of gain on restructuring
should Manny record? A) $25,500 B) $21,000 C) $20,000 D) $11,000
Which of the following is NOT a classification of the projective techniques used in marketing research?
A) association technique B) evaluation technique C) construction technique D) expressive technique E) completion technique
Which one of the following accounts below would likely be included in a deferral adjusting entry?
A) Interest Revenue B) Unearned Revenue C) Salaries Payable D) Accounts Receivable
Marketing managers often use in-store promotions to stimulate the sales of products for which consumers may not recognize their wants until they are in a store. Such products can be categorized as _____ products
a. industrial b. low-involvement c. technical d. high-priced