An indicator variable is a variable that can assume:
a. one of two values (usually 0 and 1).
b. one of three values (usually 0, 1, and 2).
c. any number of values.
d. None of these choices.
A
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Which of the following entries ensures the proper separation of revenues and expenses between successive accounting periods?
a. adjusting; b. closing; c. reversing; d. general journal; e. purchasing.
The principle of responsibility means that individuals, organizations, and societies should be held accountable to others for the consequences of their actions.
Answer the following statement true (T) or false (F)
Distinguish explicit knowledge assets from tacit knowledge assets
What will be an ideal response?
Indicate whether each of the following statements regarding effective interest amortization is true or false._____ a) The effective interest method of bond premium amortization matches interest expense with the declining carrying value of the bond._____ b) Interest expense on a bond issued at a discount will be lower in the bond's first year than if the company had used straight-line amortization._____ c) The carrying value of a bond issued at a premium will decrease by smaller and smaller amounts each year._____ d) Interest expense is calculated by multiplying the beginning carrying value of the bond by the stated rate of interest._____ e) Effective interest amortization can only be used on bonds that pay interest annually.
What will be an ideal response?