In a lien state, mortgage foreclosures can be accomplished without court proceedings
Indicate whether the statement is true or false
False
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When a company exchanges machinery and receives a trade-in allowance greater than the book value, thistransaction would be recorded with which of the following entries (assuming the exchange was considered to havecommercial substance)?
a. debit Machinery and Accumulated Depreciation; credit Machinery, Cash, and Gain on Exchange ofMachinery b. debit Cash and Machinery; credit Accumulated Depreciation and Machinery c. debit Machinery and Accumulated Depreciation; credit Machinery and Cash d. debit Cash and Machinery; credit Accumulated Depreciation
Which federal agency maintains information on individuals who may be a threat to national security?
a. Department of Justice b. Bureau of Prisons c. Department of Defense d. Secret Service
If $110,000 of 12 percent bonds are issued (at face value) one month after the last semi-annual interest date, the entry made to record the issue is:
a. Cash 111,100 Bonds Payable 110,000 Bond Interest Expense 1,100 b. Cash 111,100 Bonds Payable 111,100 c. Cash 105,600 Bond Interest Expense 5,500 Bonds Payable 111,100 d. Cash 115,500 Bonds Payable 110,000 Bond Interest Expense 5,500
Wages tend to vary more widely than hourly compensation because of the differences in the size of fringe benefits.
Answer the following statement true (T) or false (F)