The current portion of notes payable is the principal amount that will be paid within two years of the balance sheet date, and the remaining portion is long term
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FALSE
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Which method would serve to reduce the information distortion in a supply chain consisting of a fabricator, manufacturer, supplier, and a retailer?
A) Make both the fabricator and retailer responsible for all decisions regarding product inventories at the retailer. B) Make the manufacturer responsible for all decisions regarding product inventories at the retailer. C) Make the supplier responsible for all decisions regarding product inventories at the retailer. D) Make the customer responsible for all decisions regarding product inventories at the retailer.
Incompetents and persons under the age of 18 cannot be held liable for their intentional torts
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The changes in Northrup Corporation's balance sheet account balances for last year appear below: Increases (Decreases)Asset and Contra-Asset Accounts: Cash and cash equivalents$4,000 Accounts receivable$(4,000)Inventory$(2,000)??Prepaid expenses$2,000 Long-term investments$40,000 Property, plant and equipment$25,000 Accumulated depreciation$68,000 Liability and Equity Accounts: Accounts payable$(6,000)Accrued liabilities$8,000 Income taxes payable$(8,000)Bonds payable$(70,000)Common stock$10,000 Retained earnings$63,000 The company's income statement for the year appears below:Income Statement?Sales$980,000Cost of goods sold 540,000Gross margin 440,000Selling and administrative expense 310,000Net operating income130,000Income taxes 39,000Net
income $91,000The company declared and paid $28,000 in cash dividends during the year. It did not dispose of any property, plant, and equipment during the year. The company uses the direct method to determine the net cash provided by (used in) operating activities.On the statement of cash flows, the income tax expense adjusted to a cash basis would be: A. $47,000 B. $31,000 C. $49,000 D. $39,000
Update permission is the permission to enter dates in the database
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