Shoe Sunshine, Inc filed for bankruptcy protection under Chapter 11 and submitted a plan of reorganization within 120 days after filing for relief. Two of the classes of creditors voted against the plan. However, the bankruptcy judge considered the plan to be feasible, fair, and in the best interests of the creditors; it approved it in spite of these creditors' objections. This action by the
judge is called a "cramdown."
Indicate whether the statement is true or false
True
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Responsibility accounting is of least help to manufacturing companies
Indicate whether the statement is true or false
Which of the following is a complex sentence?
A) Cellular phones have become a significant business tool; therefore, individuals must demonstrate proper cell phone etiquette. B) Employees can now view company information on Facebook and Twitter. C) Although the interest rate has decreased, many people are still finding it difficult to purchase a home.
Broadly, ________ strategies may include leveraging bilateral, regional, and international trade and investment agreements, drawing on bilateral and multilateral financial support, and using project finance structures to separate project exposure from overall firm risk.
A. integrative B. protective and defensive C. vertical investment D. proactive political
On January 1, 2016, Stephen Corp., a lessor, signed a direct financing lease. Stephen was to receive annual year-end payments of $10,000 for ten years, after which there was a guaranteed residual value of $8,000. The implicit interest rate was 8%. Actuarial information for 8%, ten periods follows (round to the nearest whole dollar): Present value of ordinary annuity of $16.71008 Present value of amount of $10.46319 ? ? On January 1, 2016, what amount should Stephen record as a debit to Lease Receivable?
A. $67,100 B. $70,814 C. $100,000 D. $108,000