At common law, the landlord had no obligation to repair leased property
Indicate whether the statement is true or false
True
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A purchase order is not the basis for recording a purchase and a liability
a. True b. False Indicate whether the statement is true or false
The primary use for media panels is to determine market potential by geographic region
Indicate whether the statement is true or false
On April 1, 2019, Orbit Services received $8000 in advance of performing the services from a customer for three months of service — April, May and June. What would be the journal entry to adjust the accounts at the end of May? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)
A) Debit Service Revenue $2667, and credit Unearned Revenue $2667. B) Debit Unearned Revenue $5333, and credit Service Revenue $5333. C) Debit Unearned Revenue $8000, and credit Service Revenue $8000. D) Debit Service Revenue $5333, and credit Accounts Receivable $5333.
Marcia buys a $3,000 high-definition plasma television for her home on credit extended by the seller, Current City. Current City requires Marcia to sign a security agreement
Current City has a ________ interest in the television that is automatically perfected at the time of the credit sale. A) cumulative security B) future advance monetary C) default D) purchase money security