The journal entry to record the collection of the amount due on an interest-bearing promissory note from a customer would debit Cash, credit Notes Receivable, and
A. credit Interest Expense.
B. credit Interest Income.
C. debit Interest Income.
D. debit Interest Expense.
Answer: B
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Which of the following is a good reason to avoid delegating tasks?
A. A wish to keep subordinates from taking risks. B. To avoid making subordinates deal with a difficult client. C. A desire to keep an enjoyable part of the job. D. A fear that sensitive personnel matters will not be kept private. E. A concern that subordinates could do a better job.
Under most tax treaties, income attributable to a permanent establishment through which a foreign taxpayer conducts business can be taxed only by the taxpayer's country of residence.
Answer the following statement true (T) or false (F)
On January 2, 2010, McGowan Corporation issued 20-year bonds payable with a face value of $300,000 and a face interest rate of 8 percent. The bonds were issued to yield a market interest rate of 9 percent. Interest is payable annually on January 2 . In calculating the present value of the bond issue of January 2, 2010, the
a. 9 percent rate will be used to calculate the present value of the face amount and the 8 percent rate will be used to calculate the present value of the periodic interest payments. b. 9 percent rate will be used to calculate the present value of the face amount and the present value of the periodic interest payments. c. 8 percent rate will be used to calculate the present value of the face amount and the present value of the periodic interest payments. d. 8 percent rate will be used to calculate the present value of the face amount and the 9 percent rate will be used to calculate the present value of the periodic interest payments.
What are the ramifications of improper electronic recycling, when analyzing the example of a single desktop computer?
A. One computer contains more than 700 chemicals that can be toxic to the environment. B. Computers in landfills can leak these toxic chemicals into our land, water, and air. C. Computers contain high levels of mercury, lead, and cadmium-harmful toxins. D. All of these.