Fad products are characterized by popular styles, and they appeal to the mass market.
Answer the following statement true (T) or false (F)
False
A fad is an idea that is fashionable only to certain groups who are enthusiastic about it.
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The accountant for Fazzi Corp was preparing a bank reconciliation as of April 30, 2016 . The following items were identified: Allan's book balance $46,200 Outstanding checks 1,100 Interest earned on checking account 50 Customer's NSF check returned by the bank 500 In addition, Fazzi made an error in recording a customer's check; the amount was recorded in cash receipts as $150; the bank recorded
the amount correctly as $510 . What amount will Fazzi report as its adjusted cash balance at April 30, 2016? a. $44,650 b. $45,890 c. $46,110 d. $46,250
Failure to furnish a correct TIN to a requester (payer) can result in a penalty for the payee of:
A. $25 for each failure to complete a W-9. B. $50 for each failure to complete a W-9. C. $500 maximum for failure to complete any W-9 forms as required. D. $0, it is the responsibility of the payer (requester) to have the correct information.
All long-term liabilities eventually become current liabilities
Indicate whether the statement is true or false
E-business presents unique pressures and opportunities for fraud including:
a. proven business models that generate cash flows. b. extensive personal contact which increases customer satisfaction with the purchase. c. heightened privacy due to the ability to conduct business from home or office. d. lack of "brick-and-mortar" and other physical facilities.