The amount of federal income taxes withheld from an employee's gross pay is recorded as a:
A) payroll expense.
B) contra account.
C) current asset.
D) current liability.
D
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Knollwood Corporation issued $281,000 of 30-year, 8 percent bonds at 106 on one of its semi-annual interest dates. The straight-line method of amortization is to be used. After 11 years, what is the carrying value of the bonds?
a. $289,430 b. $289,992 c. $288,025 d. $291,678
Riley really hates to work out. She does not have the time in her day nor the energy, even though she knows it is good for her to do so. She feels bad about not exercising so she tells herself that she does not believe the research about the benefits of working out. What is Riley doing to make herself feel better?
a. Rationalizing the inconsistency b. Changing her behavior c. Changing her belief d. Having congruous thoughts
Tracy works for On A Roll Paper Company. The company purchases paper and paper products in bulk and sells them to businesses, schools, hospitals, farms, government entities, professionals, and industries for use in the buyers' business. On A Roll also sells to wholesalers, which sell them to businesses. In order to maintain its client base, On A Roll delivers the goods to the buyers, supplies warehousing for companies that lack storage space on their premises, arranges for credit, supports promotional activities, and helps customers with any needs they may have. It will even order special runs of paper from the manufacturers, if necessary, or order color and design coordinated materials for clients' promotions. On A Roll has found its approach to servicing clients has worked well-it has
maintained a solid client base and expanded its business. What type of company is this business? A. Limited-line wholesaler B. Full-service wholesaler C. Specialty-line wholesaler D. Broker
Anything less than complete performance is a material breach of contract
Indicate whether the statement is true or false