On October 1, Black Company receives a 6% interest bearing note from Reese Company to settle a $20,000 account receivable. The note is due in six months. At December 31, Black should record interest revenue of
A) $0
B) $100
C) $300
D) $600
C
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Which of the following challenges is typically associated with target costing?
A) developing a superior product with unique product benefits B) closing of the gap between the target and expected costs C) incorporating market orientation in the development process D) reducing the time it takes from concept generation to launch
Which of the following is the best example of a service?
A) the medical examination Jonathon had yesterday B) the sheet music purchased by the piano teacher C) the software Monica purchased from a Web site D) the cleaning supplies purchased for the veterinarian's office E) the tee-shirt you got for running in a 5K race
The balance sheet begins with a list of assets and then lists liabilities and shareholders' equity
Indicate whether the statement is true or false
The sale of a product with a known defect or with knowledge of its potentially harmful impact on users:
a. Is illegal. b. Is unethical. c. Exposes the manufacturer to strict and negligent product liability. d. Both b and c