During logical design, the analyst team decides which programming languages the computer instructions should be written in, which database systems and file structures will be used for the data, and which hardware platform, operating system, and
network environment the system will run under. Indicate whether the statement is true or false
FALSE
Explanation: During the systems implementation and operation phase the team decides upon programming language, databases, file structure, etc.
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The income statement reporting for other postretirement benefits (OPEB) is based on the:
A. accrual basis of accounting. B. cash or accrual basis of accounting. C. cash basis of accounting. D. regulations established by the tax code.
Valley Spa purchased $9400 in plumbing components from Tubman Co. Valley Spa signed a 60-day, 12% promissory note for $9400. 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 Bad Debt Expense $9588; credit Accounts Receivable $9588. B. Debit Bad Debt Expense $9400; credit Notes Receivable $9400. C. Debit Accounts Receivable-Valley Spa $9588, credit Interest Revenue $188; credit Notes Receivable $9400. D. Debit Accounts Receivable-Valley Spa $9400; credit Notes Receivable $9400. E. Debit Accounts Receivable $9588; debit Bad Debt Expense $188; credit Notes Receivable $9400.
Two important issues in corporate governance are (1) the rules that cover the board's ability to fire the CEO and (2) the rules that cover the CEO's ability to remove members of the board.
Answer the following statement true (T) or false (F)
Which of the following statements is FALSE?
A) The APR can be referred to as a promised annual percentage rate. B) Although an APR is quoted on an annual basis, interest can be paid quarterly. C) The period in which interest is applied or the frequency of times interest is added to an account each year is called the compounding period or compounding periods per year. D) Although an APR is quoted on an annual basis, interest can be paid monthly but never daily.