The social context of communication refers to the place or location where communication takes place
Indicate whether the statement is true or false.
False
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Paper Company receives a $6,000, 3-month, 6% promissory note from Dame Company in settlement of an openaccounts receivable. What entry will Paper Company make upon receiving the note?
a. Notes Receivable 6,000 Accounts Receivable—Dame Company 6,000 b. Notes Receivable 6,090 Accounts Receivable—Dame Company 6,090 c. Notes Receivable 6,090 Accounts Receivable—Dame Company 6,000 InterestRevenue 90 d. Notes Receivable 6,000 Interest Revenue 90 Accounts Receivable—Dame Company 6,000 InterestRevenue 90
An investor that uses the equity method of accounting for its investment in a 40 percent-owned investee that earned $50,000 and paid $8,000 in dividends, made the following entries: Investment in Equity Securities 20,000 Equity in Earnings of Investee 20,000 Cash 3,200 Dividend Revenue 3,200 What effect will these entries have on the parent corporation's statement of financial position?
a. Investment in subsidiary understated, retained earnings understated. b. Investment in subsidiary overstated, retained earnings overstated. c. Investment in subsidiary overstated, retained earnings understated. d. Financial position will be fairly stated.
Identify three indirect costs of accidents in workplaces.
What will be an ideal response?
Under the common law, contract modifications must be supported by new consideration to be binding on the parties. Under UCC Article 2:
a. parties can only modify an existing sales contract in court b. parties may not add new consideration to an existing sales contract c. parties cannot modify an existing sales contract d. parties need to provide new consideration to modify an existing sales contract e. none of the other choices are correct