If a company borrows money from its bank and the bank deducts the interest in advance, the company would record the amount of the interest deduction as
a. a discount
b. an expense
c. a loss
d. prepaid interest
a
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Which of the following is a specific objective of financial reporting?
A) provide information that is useful to investors in making investment decisions B) provide information useful in assessing the amounts, timing, and uncertainty of prospective cash receipts C) provide information useful in assessing the amounts, timing, and uncertainty of prospective cash inflows D) provide information about a company's resources and the claims against the company
Discuss common risks to consumers from cyber criminals that impact electronic commerce
Primary methods of alternative dispute resolution include litigation and mediation
Indicate whether the statement is true or false
Rawe Corporation's accounts receivable at the end of Year 2 was $329,000 and its accounts receivable at the end of Year 1 was $280,000. Sales, all on account, amounted to $1,350,000 in Year 2.The company's average collection period for Year 2 is closest to:
A. 82.4 days B. 1.0 days C. 89.0 days D. 1.2 days