A buyer of a futures contract benefits if the price of the commodity increases
a. True
b. False
Indicate whether the statement is true or false
True
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A company purchased new furniture at a cost of $14,000 on September 30. The furniture is estimated to have a useful life of 8 years and a salvage value of $2,000. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the furniture for the first year ended December 31?
A. $1,500.00 B. $500 C. $1,750 D. $437.50 E. $375.00
The action research model is more ______ rather than linear.
a. interactive b. structured c. sequential d. undeviating
Poor estimates of activity costs would be an example of what type of project risk?
a. External b. Operational c. Cost d. Schedule
During July, its first month of operation, Boardwalk Beach Shop experienced the following business events. The company uses the periodic inventory system.1) July 2 Issued $29,000 of common stock for cash.2) July 3 Purchased $7,500 of merchandise on account with terms 2/10, n/30, FOB shipping point.3) July 3 Paid $300 cash for shipping charges on the July 3 purchase.4) July 4 Returned $1,500 of the merchandise purchased on July 3.5) July 5 Sold merchandise that cost $2,000 for $3,500 cash.6) July 10 Recorded the discount and paid the amount due from the purchase of merchandise on July 3.7) July 14 Purchased additional merchandise for $4,600 on account with terms 2/10, n/30, FOB destination.Required: Record the events in general journal format.
What will be an ideal response?