Dallas took out a loan against her life insurance policy's cash value. She died before the loan could be repaid. The face value of the policy was $150,000. The insurer will pay Dallas' beneficiary:
A) $150,000
B) $150,000 minus the amount Dallas owed on the loan
C) $0
D) the total premiums Dallas paid in before she died
B
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On September 12, Ryan Company sold merchandise in the amount of $9800 to Johnson Company, with credit terms of 3/10, n/30. The cost of the items sold is $6000. Ryan uses the periodic inventory system and the net method of accounting for sales. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Ryan makes on September 18 is:
A.
| Cash | 9800? | |
| Accounts receivable | 9800? |
B.
| Cash | 9506? | |
| Accounts receivable | 9506? |
C.
| Cash | 5820? | |
| Sales discounts | 180? | |
| Accounts receivable | 6000? |
D.
| Cash | 9506? | |
| Sales discounts | 294? | |
| Accounts receivable | 9800? |
E.
| Cash | 6000? | |
| Accounts receivable | 6000? |
Ray Dalio, the CEO of Bridgewater Associates, believes in “radical transparency” at the company. This means that ______.
a. there are no doors to any of the offices b. there are no offices or cubicles; all employees work at desks in large open spaces c. everyone in the company is to consistently be totally honest with each other d. there are daily meetings in which employees must share how they feel with each other
Gains and losses on the sale of investments appear as adjustments within the financing activities section of the statement of cash flows
Indicate whether the statement is true or false
Which of the following statements is true regarding service businesses?
a. Many service companies use activity-based costing for determining the cost of services. b. Assigning overhead costs is not an issue in service businesses. c. The use of single and multiple department overhead rate methods may lead to distortions similar to those of manufacturing firms. d. Activity-based costing does not apply to service businesses.