On December 31, 2016, the Maggie Company recognized $15,000 in revenue from rent of $5,000 due in 2017 and $10,000 due in 2018, all collected in advance from another company. Ignoring income taxes, if this error is not detected
A) Retained Earnings at December 31, 2017, will be overstated by $10,000.
B) Retained Earnings at December 31, 2017, will be understated by $10,000.
C) Retained Earnings will be overstated by $15,000 until the error is discovered.
D) Retained Earnings at December 31, 2017, will be understated by $15,000.
A
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Which of the following trends can be unfavorable from the viewpoint of a bondholder?
a. The issuing company's debt ratio is steadily declining. b. The issuing company's interest coverage ratio is steadily rising. c. Market interest rates are steadily rising. d. The issuing company's net cash flow from operating activities is steadily increasing.
Which of the following is true about comparative negligence and contributory negligence?
A) In order to avoid liability for an unintentional tort, the defendant must prove the presence of both defenses. B) Comparative negligence is used with intentional torts and contributory negligence is used with unintentional torts. C) Most states that once used comparative negligence now apply contributory negligence instead. D) They are two names for the same defense. E) Comparative negligence allows the plaintiff to make a partial recovery whereas contributory negligence does not.
The common law has been called each of the following except
a. the unwritten law. b. case law. c. decisional law. d. administrative law.
A relative frequency distribution describes the____________________ or ____________________ of data values that fall within each category
Fill in the blank(s) with correct word