A good buffer needs to trivialize the reader's concerns
Indicate whether the statement is true or false.
Answer: FALSE
Explanation: A good buffer needs to be relevant and sincere. In contrast, a poorly written buffer might trivialize the reader's concerns, divert attention from the problem with insincere flattery or irrelevant material, or mislead the reader into thinking your message actually contains good news.
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A large uninsured loss from a fire is treated on the income statement as an extraordinary item
Indicate whether the statement is true or false
A $200,000 bond issue with a carrying value of $194,000 is called at 101 and retired. The entry to record the retirement of bonds would be:
a. Bonds Payable 200,000 Gain on Retirement of Bonds 6,000 Cash 194,000 b. Bonds Payable 200,000 Cash 200,000 c. Bonds Payable 200,000 Loss on Retirement of Bonds 8,000 Unamortized Bond Discount 6,000 Cash 202,000 d. Bonds Payable 194,000 Loss on Retirement of Bonds 8,000 Cash 202,000
Which of the following most likely is an estimated liability?
A) Liability for vacation pay B) Payroll liabilities C) Unearned revenues D) Current portion of long-term debt
Amy writes a letter to Bill requesting him to deal with all employment matters at her business until she returns from a visit to a foreign country. Bill replies and accepts her request
Which of the following types of agency relationships have Amy and Bill established? A) agency by implied authority B) agency by agreement C) agency through ratification D) agency by estoppel