The Current Portion of Long-Term Notes Payable would normally be shown on the balance sheet under current liabilities
Indicate whether the statement is true or false
TRUE
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John Cleaver is the CEO of Tech World, which is a retail store that sells computers, monitors, cameras, televisions, and many other electronic products. John and his executive team are meeting to brainstorm new ideas on how to grow the business. One idea is to mimic a competitor's product that is attempting to sell a new product in a different industry. After performing a Porter's Five Forces analysis, John determines that all of the forces are high in this new industry. What should John do?
A. Explode into the market with an overflow of the product. B. Not introduce the product because all five forces are strong and this would be a highly risky business strategy. C. Compare the competitor's prices and offer his product lower in this new market. D. Contemplate other products to introduce at the same time in this new market.
When there are material differences between the results of using the straight-line method and using the effective interest method of amortization, the effective interest method should be used
Indicate whether the statement is true or false
Regarding contracts, in seeking to determine whether there is a meeting of the minds, the courts look to how a reasonable person would objectively view the language or actions of the parties
a. True b. False Indicate whether the statement is true or false
Marlo and Nita enter into a contract for the sale of Marlo’s apartment for which Nita agrees to pay $250,000. Nita assigns her right to buy the apartment to Owen. Owen is
A. the obligor. B. a third party beneficiary. C. the assignee. D. the assignor.