Torlin Inc neglected to amortize the discount on outstanding ten-year bonds payable. What is the effect of the failure to record discount amortization on interest expense and bond carrying value, respectively?
a. Understate; understate
b. Understate; overstate
c. Overstate; overstate
d. Overstate; understate
A
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Long-term investments include all of the following except
A) sinking funds. B) cash surrender value of life insurance policies. C) a building held for rental activity. D) bonds payable.
My boss really does not understand the technical aspects of the job my group is trying to complete. I understand the intricacies of the project, and my team members come to me with all of their questions. What has happened in this work setting?
A. I have taken control and power of the group. B. I have undermined my boss. C. I have emerged as the team leader. D. My boss is no longer a leader.
If the assets of a company increase by $55,000 during the year and its liabilities increase by $25,000 during the same year, then the change in equity of the company during the year must have been:
A. A decrease of $30,000. B. An increase of $80,000. C. An increase of $25,000. D. A decrease of $80,000. E. An increase of $30,000.
The ________ holds that just as charity is a good thing and something that should be encourage, business should be encouraged to contribute to society in ways that go beyond the narrow obligations of law and economics. Identify the model of corporate social responsibility (CSR) that reflects this line of thought.
A. Legal model B. Philanthropic model C. Stakeholder theory D. Integrative model