Utah Co sold merchandise to Big Sky Corp on December 1, 2014, for $9,000, and accepted a promissory note for payment in the same amount. The note has a term of 90 days and a stated interest rate of 8%. Utah's accounting period ends on December 31. What is the actual maturity date of the note?
a. December 31, 2014
b. January 29, 2015
c. February 28, 2015
d. March 1, 2015
d
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On May 18, 2018, Fran Co. invested excess cash of $50,000 by purchasing bonds of Hans Inc. At year-end, December 31, 2018, the market price of the bonds was $52,000. The investment is categorized as a trading debt investment. Journalize the adjusting entry needed at December 31, 2018. Omit explanation.
What will be an ideal response?
A symphony will place ads on radio or TV. The decision should be based on
a. the media that have been used before b. how much money it has to spend c. the media habits of the target audience d. the type of advertising copy desired e. all of the above
A broker has a duty to disclose his interest in a partnership competing with the seller
Indicate whether the statement is true or false
Of the following, which is NOT listed in the text as a benefit to consumers of international trade?
a. A greater amount of choice in the availability of goods b. A greater amount of choice in the availability of services c. Increased cooperation among countries of the world d. Higher living standards e. Lower prices for goods and services consumed