To download Nintendo games on the Internet, where others could then copy them freely, is a violation of which intellectual property rights:
a. patents
b. trademarks c. copyrights
d. trade secrets
e. none of the other choices; the Internet is public domain
c
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Information asymmetry may cause problems because management's behavior
A) may be to enhance the owners' financial interests at the expense of their self-interests. B) will always follow classic agency law. C) may not always be in the best interests of the owners (shareholders). D) as agents will always be in the best interests of the owners (shareholders).
Answer the following statements true (T) or false (F)
Flexibility applies to situations in which there are relevant circumstances and more than one possible accounting method exists.
Valley Spa purchased $7,800 in plumbing components from Tubman Co. Valley Spa signed a 60-day, 10% promissory note for $7,800. If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry to record the dishonored note? (Use 360 days a year.)
A. Debit Accounts Receivable $7,930; debit Bad Debt Expense $130; credit Notes Receivable $8,060. B. Debit Bad Debt Expense $7,800; credit Notes Receivable $7,800. C. Debit Accounts Receivable-Valley Spa $7,930, credit Interest Revenue $130; credit Notes Receivable $7,800. D. Debit Accounts Receivable-Valley Spa $7,800; credit Notes Receivable $7,800. E. Debit Bad Debt Expense $7,930; credit Accounts Receivable $7,930.
A trial balance summarizes the ledger by listing all the accounts with their balances at a point in time
Indicate whether the statement is true or false