Which of the following would NOT be considered to be an example of open-ended credit?
a. A gasoline credit card.
b. A VISA card.
c. A real estate mortgage.
d. A department store credit card.
c
You might also like to view...
Which marketing orientation focuses on creating demand and moving product inventory?
A) production orientation B) social responsibility orientation C) consumer orientation D) sales orientation E) relationship orientation
The British prime minister David Cameron led the privatization movement.
Answer the following statement true (T) or false (F)
Which of the following accounting principles prescribes that a company record its expenses incurred to generate the revenue reported?
A. Going-concern assumption. B. Consideration assumption. C. Expense recognition (Matching) principle. D. Business entity assumption. E. Measurement (Cost) principle.
To Go Company is preparing its statement of cash flows using the indirect method. During the year, they purchased equipment for $15,000 cash. Which of the following statements is true?
A) $15,000 would be shown as a negative cash flow in the operating activities section. B) $15,000 would be shown as a negative cash flow in the investing activities section. C) $15,000 would be shown as a positive cash flow in the investing activities section. D) $15,000 would be shown as a positive cash flow in the financing activities section.