Which of the following is not a suretyship defense?
A) statute of limitations
B) performance of the obligation by the principal debtor
C) creditor substitution of the original debtor with a new one
D) insolvency of bankruptcy of the principal debtor
D
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Which of the following is a counterbalancing error?
A. understated depletion expense B. bond premium under-amortized C. prepaid expense adjusted incorrectly D. overstated depreciation expenses
Which of the following is the fourth step of the "Six Steps in Decision Making"?
A) Select one of the mathematical decision theory models. B) List the possible alternatives. C) Apply the model and make your decision. D) List the payoff or profit of each combination of alternatives and outcomes. E) Identify the possible outcomes or states of nature.
Norma has been given the responsibility of determining the advertising appropriation for her firm's newest marketing campaign. At first she thinks that determining the advertising objectives and breaking them into tasks is the best way. However, Norma notices that past sales have been relatively constant, she multiplies the firm's past sales by a standard percentage based on what her firm usually spends on advertising. Norma is using the ________________ approach. The problem of this approach is that it assumes _________________________.
A. objective-and-task; the effort required is minimal B. objective-and-task; advertising creates sales C. percent-of-sales; advertising creates sales D. objective-and-task; sales create advertising E. percent-of-sales; sales create advertising
Which of the following accounts does not have a normal credit balance?
A. Common Stock B. Notes Payable C. Equipment D. Deferred Revenue