In its "Objectives of Financial Reporting by Business Enterprises" the FASB identified a variety of primary users including all of the following except

A. internal management
B. investors
C. creditors
D. security analysts


Answer: A

Business

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On November 1, Orpheum Company accepted a $11,300, 90-day, 12% note from a customer to settle his account. What entry should be made on the November 1 to record the acceptance of the note?

A. Debit Note Receivable $11,300; credit Sales $11,300. B. Debit Sales $11,300; credit Accounts Receivable $11,300. C. Debit Note Receivable $11,300; credit Accounts Receivable $11,300. D. Debit Note Receivable $11,639; credit Accounts Receivable $11,300; credit Interest Revenue $339. E. Debit Note Receivable $11,300; credit Cash $11,300.

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Indicate the correct form of the adjective or adverb in parentheses. Use more or most, when appropriate, instead of less or least. Registration for the spring semester went (smoothly)

Business

Explain how degeneracy is recognized when using the simplex algorithm

What will be an ideal response?

Business

An injured party may sue for only one remedy for breach of a sales contract

Indicate whether the statement is true or false

Business