_____ essentially determines the nature of agreements that are enforceable and create legal rights between the parties
a. Agency law
b. Contract law
c. Civil law
d. Litigation
e. None of the above.
b
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Which of the following statements is true?
a. Management accounting is a subset of cost accounting. b. Cost accounting is a subset of both management and financial accounting. c. Management accounting is a subset of both cost and financial accounting. d. Financial accounting is a subset of cost accounting.
A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable$363,000?debitAllowance for uncollectible accounts 580?debitNet Sales 808,000?credit All sales are made on credit. Based on past experience, the company estimates that 0.6% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared?
A. $1598 B. $4848 C. $2758 D. $5428 E. $4268
Jayden opened a savings account in a bank, and the bank issued him a card that can be used for various transactions. As Jaden does not prefer carrying cash all the time, he mostly uses the card to pay for all his purchases. His transactions are thus cashless, and the purchase amount is immediately deducted from his bank account. In this case, Jayden is using a _____.
A. credit card B. debit card C. stored-value card D. fleet card
In the context of the primary securities market, in a private placement, _____.
A. the pool of potential investors is not limited to accredited investors B. the process of raising capital is complex and more expensive than public offerings C. it is mandatory to register with the Securities and Exchange Commission D. financing can be obtainedwithout having to prepare complex registration documents