The equity section of the balance sheet of a partnership reports the separate capital account balances of each partner.
Answer the following statement true (T) or false (F)
True
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On September 1, 2015, Excellent Company received an $80,000, 12%, 120-day note from a credit customer wishing to extend its repayment period. On October 1, 2015, thirty days after the note was received, Excellent discounted the note at the bank at 14%. How much cash did Excellent Company receive from the bank?
A) $80,800 B) $80,749 C) $80,288 D) $79,317
Dividends on ________ stock, if not paid in any year, will be payable later when funds are available.
A. cumulative preferred B. cumulative to the extent earned C. noncumulative preferred D. participating preferred
If an organization chooses to provide a minimum level of benefits for its employees and prefers to allocate resources fairly, this is an example of ______.
A. distributive justice B. procedural justice C. interactional justice D. all of these
Which of the following cannot be used as a pointing adjective?
A) this B) they C) those D) these E) that