Lenders Bank provides Mark with a mortgage to buy a home. The rate of interest is fixed for five years and then adjusts annually. This is
A) a fixed-rate mortgage
B) an adjustable-rate mortgage.
C) a workout agreement.
D) a violation of the law.
B
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Which of the following statements is true?
A) In order to remain impartial, the FASB discourages public input during development of standards. B) FASB accounting standards are the result of clearly defined objectives, an integrated body of theory, and the known consequences of actions. C) The FASB deliberates and issues accounting standards only after receiving a formal letter of request from the SEC. D) Accounting standards, which have economic and political consequences, are often the result of compromise.
A regional restaurant chain wants to place ads on a local newspaper's website
The marketing team at the restaurant chain knows from experience that about five percent of the people who see its ads on a newspaper's website will click on the ad to get more information or sign up for a promotion. Because the marketing team wants to keep the price of running the ads low, the restaurant chain will likely opt for ________ pricing. A) cost per impression B) cost per customer C) cost per order D) cost per click E) cost per conversion
Approval clauses require that the ________ approve any assignment of a contract
A) obligee B) obligor C) assignor D) assignee
Avatar Auto Parts Company uses the indirect method to prepare the statement of cash flows
Refer to the following section of the comparative balance sheet: Avatar Company Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Increase/(Decrease) Accounts Payable $4,000 $6,000 $(2,000 ) Accrued Liabilities 2,000 1,000 1,000 Long-term Notes Payable 84,000 90,000 (6,000 ) Total Liabilities $90,000 $97,000 $(7,000 ) How will the change in Accounts Payable be shown on the statement of cash flows? A) as an addition to Net Income B) as a deduction from Net Income C) as a deduction from investing cash flows D) as an addition to operating cash flows