A check is a type of promissory note
Indicate whether the statement is true or false
FALSE
You might also like to view...
The owner of 100 shares of stock of a corporation with 2,000 shares of stock outstanding has a 5% interest in the total stockholders' equity. If a 20% stock dividend is declared and distributed a 5% interest in the total stockholders' equity prior to the stock dividend, would have which of the following interests in the equity after the stock dividend was distributed?
a. 5% b. 6% c. 20% d. 25%
The direct exchange of goods or services between parties in lieu of monetary payment is known as:
A) barter. B) switch trading. C) offset. D) compensation trading. E) counterpurchase.
Trent Co purchased 20,000 shares of IBM stock, as a trading security, for $42 in June of 2013 . At year-end, the stock price had risen to $45 . Trent:
a. makes no adjustment to the value of the stock at year end. b. records a debit to Allowance to Adjust Short-Term Investments to Market and a credit to Unrealized Gain on Investments. c. records a debit to Unrealized Gain on Investments and a credit to Allowance to Adjust Short-Term Investments to Market. d. records a debit to Allowance to Adjust Short-Term Investments to Market and a credit to Realized Gain on Investments.
Assume that an assembly line has three tasks that must be completed (in order, A, B, C, and D). The tasks have processing times of 8, 12, 9, and 10 minutes per unit, respectively. If the assembly line operates for 500 minutes per day with a desired output of 50 units per day, what is minimum number of workstations?
a. 4 b. 3 c. 2 d. Cannot be determined from the information given