A business borrowed $40,000 on March 1 of the current year by signing a 30-day, 9% interest bearing note. When the note is paid on March 31, the entry to record the payment should include a
A) debit to Interest Payable $300
B) debit to Interest Expense $300
C) credit to Cash for $40,000
D) credit to Cash for $43,600
B
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The topic of foreign exchange rates relates most closely to the concept of
A) separate entity. B) money measure. C) nonexchange transactions. D) business transactions.
________ refers to jurisdiction to hear a case because of jurisdiction over the property of the lawsuit
A) In rem jurisdiction B) Quasi in rem jurisdiction C) Private jurisdiction D) In personam jurisdiction
How have large businesses traditionally gauged customer tastes and preferences?
a. by analyzing large amounts of historical data b. by conducting short market experiments c. by prototyping new concepts d. by asking employees
A merge activity is one that merges with other activities into a succeeding activity.
Answer the following statement true (T) or false (F)