An example of an adjusting entry would not include:
A. Recording unpaid salaries.
B. Recording interest earned on bank account balances.
C. Recording the expiration of prepaid rent.
D. Recording the purchase of office supplies.
Answer: D
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A bond that had a 20-year original maturity with 1 year left to maturity has more interest rate price risk than a 10-year original maturity bond with 1 year left to maturity. (Assume that the bonds have equal default risk and equal coupon rates, and they cannot be called.)
Answer the following statement true (T) or false (F)
The right of possession of remainder is an example of future interest
Indicate whether the statement is true or false
Which of the following statements about brick-and-mortar retailers is accurate?
A. Most brick-and-mortar retailers have an online presence. B. All brick-and-mortar stores must have an online store in order to succeed. C. Brick-and-mortar stores offer the same product assortment in their physical and online stores. D. Sales volume for the online stores of traditional brick-and-mortar outlets is inconsequential. E. Brick-and-mortar stores do best when limiting their online capabilities to the sharing of product information.
George and Lee Sung sell stereos. Last month George sold 19 more stereos than Lee Sung. Together they sold 153. How many stereos did Lee Sung sell?
A) 83 B) 79 C) 67 D) 91