Money is a common form of consideration to support a contract
Indicate whether the statement is true or false
TRUE
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Negotiability gives commercial paper a high degree of marketability and commercial utility by allowing it to be freely transferable and enforceable by a holder in due course
Indicate whether the statement is true or false
Consider the price elasticity of demand. If a product has price elasticity less than one it is considered to have relatively elastic demand
Indicate whether the statement is true or false.
When originating telephone calls, identify yourself promptly and state the purpose of your call, get to the point quickly, and listen carefully.
Answer the following statement true (T) or false (F)
Fireside, Inc. had the following bond issue: Date of issue/sale: May 1, 20-APrincipal: $400,000Sale price of bonds: 96Life of bonds: 10 yearsStated rate: 6% a year payable semiannually on October 31 and April 30? Required:Prepare the following general journal entries. a.The issuance of the bonds on May 1, 20-A.b.The first interest payment for 20-A.c.The adjusting entry for December 31, 20-A.d.The reversing entry for January 1, 20-B.
What will be an ideal response?