Accruals represent a form of:
A. adjustable-rate debt because a varying rate of interest is paid on the outstanding balance (amount).
B. expensive debt because high rates of interest are paid on the outstanding balance.
C. cheap debt because low rates of interest are paid on the outstanding balance.
D. free debt because no explicit interest is paid on the outstanding balance.
E. fixed-rate debt because a fixed rate of interest is paid on the outstanding balance.
Answer: D
You might also like to view...
Use this information to answer the following question. The following totals for the month of September were taken from the payroll register of Meadors Company: Salaries expense $24,000 Social security and Medicare taxes withheld 1,100 Income taxes withheld 5,000 Medical insurance deductions 500 Life insurance deductions 400 Salaries subject to federal and state unemployment taxes of 6.2 percent
8,000 The entry to record the accrual of employer's payroll taxes would include a debit to Payroll Taxes and Benefits Expense for A) $2,496. B) $1,100. C) $1,596. D) $496.
Explain what SERVQUAL is and how it is used in services
What will be an ideal response?
If you take out a loan from a bank, you will be charged ________
A) for principal but not interest B) for interest but not principal C) for both principal and interest D) for interest only
Enterprise Risk Management is a comprehensive approach to corporate risk
Indicate whether the statement is true or false