Unlike statutes, administrative regulations do not have a binding effect
Indicate whether the statement is true or false
F
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Employees who receive stock options as incentive pay must exercise the stock options even if the stock price decreases.
Answer the following statement true (T) or false (F)
______ makes a binding decision to which all parties must adhere.
a. An arbitrator b. A mediator c. A conciliator d. A collective bargainer
Generally accepted accounting principles require that a business's fiscal year must end on December 31.
Answer the following statement true (T) or false (F)
The following events apply to Jason's Lawn Service for Year 1.1) Issued stock for $14,000 cash2) On January 1, paid $12,000 cash for equipment that has an estimated life of five years and a salvage value of $2,0003) On May 1, issued a $3,000, 5% 3-year note to a local bank4) Performed services of $18,400 and received cash5) Paid $15,000 of operating expenses6a) Adjusted the records to recognize expense associated with use of the equipment during Year 16b) Adjusted the records to recognize interest expense for Year 1Required: Record the effects of the above events under the appropriate account headings in the accounting formula below. 
What will be an ideal response?