Premium on Bonds Payable is a balance sheet item for Ohio Products Company. How would it most likely be classified on the balance sheet?
a. An increase to a long-term liability
b. Revenue
c. Long-term asset
d. Contra liability
a
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When an individual sets high expectations for themselves and then performs to these expectations it is called ______.
A. the Pygmalion effect B. the Galatea effect C. a self-fulfilling prophecy D. grit
One method to improve the effectiveness of open-book management is through game playing
Indicate whether the statement is true or false
Malcolm Obrien was asked by Theresa Cho to be a director of her company. Malcolm agreed, but apart from accepting the title of director he had no idea what was going on in the business. There were never any formal board of directors meetings
The business went bankrupt and Revenue Canada sued Malcolm for $10,000 for income tax withheld by the company from employee wages but not remitted. The money was used to try to keep the business afloat. The employees are also suing for five months' unpaid wages. Which of the following is true? A) Malcolm is not liable for either claim as he had no involvement with the business. B) Malcolm is not liable for the Revenue Canada claim as he didn't receive any of the money personally. C) Malcolm is liable for the wage claim D) Malcolm is liable for the Revenue Canada claim. E) Both C and D
Push systems are often used in firms with highly repetitive processes and well defined work flows of standardized items
Indicate whether the statement is true or false