Anything that is commonly accepted and used to purchase goods and services is called ____________________.
Fill in the blank(s) with the appropriate word(s).
money
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Except for the special provisions concerning depositary banks, if an order instrument is transferred without indorsement, the ________.
A. transferee has none of the rights of the transferor to enforce the instrument B. transferee can qualify as a holder C. instrument has not been negotiated D. transferee has the right to the qualified indorsement of the transferor
Which of the following statements is correct?
a. Short-term debt is often less costly than long-term debt and the major reason for this is that short-term debt exposes the borrowing firm to much less risk than long-term debt. b. Under normal conditions the shape of the yield curve implies that the interest cost of short-term debt is greater than that of long-term debt, although short-term debt has other advantages that make it desirable as a financing source. c. Flexibility is an advantage of short-term credit but this is somewhat offset by the higher flotation costs associated with the need to repeatedly renew short-term credit. d. A short-term loan usually can be obtained more quickly than a long-term loan but the penalty for early repayment of a short-term loan is significantly higher than for a long-term loan. e. Statements about the flexibility, cost, and riskiness of short-term versus long-term credit are dependent on the type of credit that actually is used.
The accounts in the ledger of Monroe Entertainment Co are listed in alphabetical order. All accounts have normal balances. Accounts Payable 1,500 Fees Earned 3,000 Accounts Receivable 1,800 Insurance Expense 1,300 Investment 2,000 Land 3,000 Cash 2,600 Wages Expense 1,400 Withdrawals 1,200 Owner's Equity 8,800 Prepare a trial balance. The total of the debits is
A) $13,300 B) $9,400 C) $9,100 D) $9,600 E) $20,600
If you view your employer's instructions or influence as improper, then you should most likely:
A) report your company to your industry's governing body B) do what everyone else is doing C) compromise your values in order to keep your job D) voice opposition to the practice if it is in conflict with your value system E) follow the lead of your colleagues