The coding scheme most appropriate for a chart of accounts is
a. sequential code
b. block code
c. group code
d. mnemonic code
B
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Howard and Ali enter into a contract where Ali has to ship goods within six weeks of signing the contract. Two weeks into the contract, Ali informs Howard that he cannot provide the shipment on time
What type of contractual breach does this constitute? Suggest Howard's course of action following the breach of contract.
In newspaper ads, Lo-Price Autos falsely accuses Hi-Value Vehicles, a competitor, of selling stolen cars. Hi-Value's sales decrease. Lo-Price has most likely committed
a. slander of quality. b. slander of title. c. wrongful interference with a business relationship. d. none of the choices.
A company has the following unadjusted account balances at December 31, of the current year; Accounts Receivable of $185,700 and Allowance for Doubtful Accounts of $1,600 (credit balance). The company uses the aging of accounts receivable to estimate its bad debts. The following aging schedule reflects its accounts receivable at the current year-end:Account AgeBalanceEstimated Uncollectible PercentageCurrent (not yet due)$96,0001.0%1-30 days past due64,0002.5%30-60 days past due16,00011.0%61-90 days past due6,50037.0%Over 90 days past due3,20070.0%Total$185,700?1. Calculate the amount of the Allowance for Doubtful Accounts that should appear on the December 31, of the current year, balance sheet.2. Prepare the adjusting journal entry to record bad debts expense for the current year .
What will be an ideal response?
An indorsement stating "Pay Paula Hobson only":
A) is designed to restrict the rights of the indorser. B) is given the same effect as an unrestrictive indorsement. C) will, under the Code, be effective to prohibit further transfer beyond Paula Hobson. D) is labeled a "qualified indorsement," and it destroys negotiability.