Verilux Company sold merchandise to Flight Corp on November 1, 2014, for $10,000 . Verilux accepted a promissory note from Flight Corp for $10,000 . The note has a term of 5 months and a stated interest rate of 7%. Verilux's accounting period ends on December 31, 2014 . What amount should Verilux recognize as interest revenue on December 31, 2014?
a. $ -0-
b. $ 116.67
c. $ 291.67
d. $ 280.00
b
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Which of the following would not be considered cash?
a. Postage stamps b. Checks from customers c. Money orders from customers d. Bank deposits
The term capital can mean
a. cash, only. b. long-term assets, only. c. all sources of funding, only. d. shareholders' equity, only. e. cash, long-term assets, all sources of funding, or shareholders' equity.
What is a citizen marketer? What are the four types of citizen marketers? What is a compelling reason why firms should avoid creating their own citizen marketers?
What will be an ideal response?
Partners who erroneously, but in good faith, believe they have become limited partners can escape liability as general partners by ________
A) adding their surname to the name of the business establishment B) filing for a refund of his or her initial investment with interest C) bringing a lawsuit against all general and limited partners D) withdrawing from any future equity participation in the enterprise