Bond discount should be presented in the financial statements of the issuer as a(n)
a. adjunct liability.
b. contra liability.
c. deferred charge.
d. contra asset.
B
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During a concealment investigation, an investigator fails to recognize that an invoice had been forged. This represents a:
a. sampling risk. b. non-sampling risk. c. systematic risk. d. systemic risk.
A trial balance is normally prepared at the end of each business day
Indicate whether the statement is true or false
Property loss insurance provides protection from all but one of the following. Which one is not covered by property loss insurance?
A) The financial harm that your negligence causes others B) Damage to your property resulting from natural disasters C) Your financial loss due to the negligence of others D) Your financial loss due to your own negligence
Dusty is evaluating three bids to supply fence hardware for the 5 acres of pasture that need to be fenced
Breezy submits a bid of $40 per unit with a defect rate of 3%; Lady's bid is $50 per unit with a defect rate of 0.5%; and Spike's bid is $30 per unit with a defect rate of 5%. If a section of fence fails, it costs an average of $500 in losses and herding costs to round up all of the capybaras. Dusty believes it will take 500 units to fence in this pasture configuration; which supplier should win the business? A) Spike B) Breezy C) Lady D) no difference between Breezy and Spike