Keri's will states, "I give to my sister Liz my condominium in Malibu, California." This is
A. a general legacy.
B. a residuary.
C. a specific bequest.
D. a specific devise.
Answer: D
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A business borrowed $40,000 on March 1 of the current year by signing a 30-day, 9% interest bearing note. When the note is paid on March 31, the entry to record the payment should include a
A) debit to Interest Payable $300 B) debit to Interest Expense $300 C) credit to Cash for $40,000 D) credit to Cash for $43,600
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What will be an ideal response?
Which stage of the planning process is Miteron Corp. involved in if it is assessing how well alternative plans meet high-priority goals while considering the cost of each initiative and the likely investment return?
A. monitoring and controlling performance B. evaluating goals and plans C. implementing goals and plans D. selecting goals and plans E. analyzing the situation