During the year, Franklin Corporation incurred the following costs in connection with the issuance of bonds: Printing and engraving ................................ $ 30,000 Legal fees ............................................ 160,000 Fees paid to independent accountants for registration information ........................................... 20,000 Commissions paid to underwriter
....................... 300,000 The amount recorded as a deferred charge to be amortized over the term of the bonds is
a. $0.
b. $30,000.
c. $300,000.
d. $510,000.
D
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Food product manufacturers are required to list the number of calories at the top of the nutrition panel. Posting calorie information is an example of meeting the ________ requirements of labeling.
A. customer B. marketing C. industry D. legal E. aesthetic
Bliss Corporation settles a liability by making a payment in cash. How does paying this liability affect the accounting equation of the business?
A) assets and liabilities decrease B) liabilities decrease and equity increases C) assets and liabilities increase D) assets increase and equity decreases
In 1977, ________ pioneered the concept of selling new public issues of junk bonds for companies that had not yet achieved investment-grade status
A) Michael Milken B) Roger Milliken C) Ivan Boskey D) Carl Ichan
Approximately what percentage of patent applications are approved:
a. 10% b. 20% c. 85% d. 100% e. none of the other choices are correct