Short-term notes payable:
A. Rarely involve interest charges.
B. Are a conditional promise to pay.
C. Are not negotiable.
D. Can be issued in return for money borrowed from a bank.
E. Cannot replace an account payable.
Answer: D
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What is the test data technique?
A. "It uses a set of input data to validate system integrity" and "It requires auditors to prepare both valid and invalid data to examine critical logics and controls of the system" are correct. B. It is an automated technique that enables test data to be continually evaluated during the normal operation of a system. C. It requires auditors to prepare both valid and invalid data to examine critical logics and controls of the system. D. It uses a set of input data to validate system integrity. E. None of the answers is correct.
Which type of business ownership has limited liability?
A) Sole proprietors B) General partners C) Shareholders of a corporation D) None of the above
A(n) ________ is a group of related managerial decisions and actions to help an organization achieve its goals.
A. objective B. allocation C. strategy D. motto E. accomplishment
An entity that describes attributes such as repeating groups is called:
A) a fundamental entity. B) an associative entity. C) an attributive entity. D) an external entity.