Cities and towns can provide benefits for stalled developments if the cities and towns receive benefits in exchange
Indicate whether the statement is true or false
True
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Which of the following is a benefit of franchising for franchisees?
A) The franchisee finds it easier to borrow money from financial institutions. B) The franchisee receives ownership of the franchisor's trade mark. C) The franchisee must change its operations to suit those of the franchisor's. D) The franchisee collects royalty payments from the franchisor. E) The franchisee is paid by the franchisor for being part of the system.
Which of the following statements is true of a restrictive indorsement?
A. It includes indorsements for collection, which are commonly put on by banks involved in the collection process, and indorsements for deposit. B. A person who purchases a check indorsed "for collection" automatically converts it even if the indorser received the amount paid for it. C. If an indorser merely signs his name and does not specify to whom the instrument is payable, he has indorsed the instrument in restriction. D. A person who takes an instrument with a restrictive indorsement should not pay for the instrument consistently with the indorsement.
Profitability means having enough cash on hand to pay bills when they become due
Indicate whether the statement is true or false
Malcolm Corporation purchased an insurance policy for three years beginning January 1, Year 2, and recorded the $6,000 premium in the Prepaid Insurance account. What adjusting entry is required to reflect the proper balances, in the insurance-related accounts at year-end, on December 31, Year 2?
a. Insurance Expense 2,000 Prepaid Insurance 2,000 b. Prepaid Insurance 2,000 Insurance Expense 2,000 c. Insurance Expense 4,000 Prepaid Insurance 4,000 d. Prepaid Insurance 4,000 Insurance Expense 4,000 e. Insurance Expense 6,000 Prepaid Insurance 6,000