Factoring involves selling accounts receivables for:
a. more than their face value
b. less than their face value
c. their present value
d. their par value
e. their depreciated value
b. less than their face value
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Abbott Company uses the estimate of sales method of accounting for uncollectible accounts. Abbott estimates that 3% of all credit sales will be uncollectible. On January 1, 2009, the Allowance for Doubtful Accounts had a credit balance of $2,400. During 2009, Abbott wrote-off accounts receivable totaling $1,800 and made credit sales of $100,000. After the adjusting entry, the December 31, 2009,
balance in the Uncollectible Accounts Expense would be A) $1,200 B) $3,000 C) $3,600 D) $7,200
Market control
A. is the use of rules, standards, regulations, hierarchy and legitimate authority to guide performance. B. is based on the idea that employees may share the values, expectations, and goals of the organization and act in accordance with them. C. uses prices, competition, and exchange relationships to regulate activities. D. does not assume that the interests of the organization and individuals naturally diverge. E. includes such items as budgets, statistical reports, and performance appraisals.
Which type of research is also called pure research and attempts to expand the frontiers of knowledge but is not aimed at a specific, pragmatic problem?
A. applied B. basic C. primary D. secondary E. synergistic
A landlord is most likely liable to a tenant who is injured by: A) a defective condition of the leased premises that is under the control of the tenant
B) an obvious condition of the leased premises known to the tenant at the time the lease was made. C) an unforeseeable criminal act of a third person. D) the criminal act of a third person, when such conduct was reasonably foreseeable.