A company's planned borrowings and repayments appear on the:
A) production budget.
B) selling and administrative expense budget.
C) interest income budget.
D) cash budget.
E) operating budget.
D
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When net income is low relative to operating cash flows, we describe the firm as having recorded
a. income-decreasing accruals. b. income-increasing accruals. c. income neutral accruals. d. abnormal accruals.
All the employees of ABC Company are assigned ID numbers. The ID number consists of the first letter of an employee's last name, followed by four numbers. a.How many possible different ID numbers are there?b.How many possible different ID numbers are there for employees whose last name starts with an A?
What will be an ideal response?
On July 9, Mifflin Company receives an $8,500, 90-day, 8% note from customer Payton Summers as payment on account. What entry should be made on the maturity date assuming the maker pays in full, and no adjusting entries have been made related to the note? (Use 360 days a year.)
A. Debit Cash $8,613; credit Interest Revenue $113; credit Notes Receivable $8,500. B. Debit Cash $8,628; credit Interest Revenue $128; credit Notes Receivable $8,500. C. Debit Notes Receivable $8,500; debit Interest Receivable $170; credit Sales $8,670. D. Debit Cash $8,670; credit Interest Revenue $170; credit Notes Receivable $8,500. E. Debit Cash $8,500; credit Notes Receivable $8,500.
Rescission is the substitution of one party to a contract for a third party, who agrees to assume the contractual duties
Indicate whether the statement is true or false