All expected future payments are liabilities.
Answer the following statement true (T) or false (F)
False
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A trucking company is considering purchasing new trucks that are powered by ethanol instead of diesel fuel. In terms of the buying center, the truck drivers who must make sure that the trucks' fuel tanks do not run out of fuel are the ________
A) initiators B) liaisons C) agents D) users E) gatekeepers
Which of the following is one of the two steps of the 2-step test for derecognition of receivables stated in IAS 39, International Accounting Standard 39, "Financial Instruments: Recognition and Measurement"?
a. The transferred assets have been isolated from the transferor such that the transferor and its creditors cannot access the assets. b. The transferee has the right to pledge or exchange the transferred assets. c. If the receivable transfer does not involve the transfer of substantially all the risks and rewards of ownership, then test to determine if the transferor maintains effective control over the assets through either an agreement to repurchase the assets before their maturity, or by the ability to cause the transferee to return specific assets. d. Determine whether the receivable transfer involves a transfer of substantially all the risks and rewards of ownership of the receivable and, if so, account for the transfer as a sale of the receivable.
Exchange rate forecasting is an advanced science; with the correct data, we can predict with accuracy exchange rate movements.
Answer the following statement true (T) or false (F)
Short quotations typically have quotation marks around them
a. true b. false