Answer the following statements true (T) or false (F)
SFAS No. 87 achieved greater uniformity in measuring accrued pension expense by mandating use of one actuarial method, the accumulated benefit method.
ANSWER: F
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The journal entry used to record the issuance of a discounted note for the purpose of borrowing funds for thebusiness is
a. debit Cash and Interest Expense; credit Notes Payable b. debit Cash and Interest Payable; credit Notes Payable c. debit Accounts Payable; credit Notes Payable d. debit Notes Payable; credit Cash
Dividends in Arrears
a. is a liability account. b. is a contra stockholders' equity account. c. is a stockholders' equity account. d. appear in the notes to the financial statements.
Countries have different regulations on what may or may not be imported and which tariff applies to which imported product.
Answer the following statement true (T) or false (F)
It is generally agreed that globalization:
a. Intensifies social relations over ever-greater distances b. Links different and previously separated peoples and locales c. Transforms the spatial and temporal organization of social relations and transactions d. All of the above