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Indicate whether the statement is true or false


TRUE

Business

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On January 1, 2016, Tessa loaned $12,000 to another company on a three-year, 4% note. No interest was accrued in 2016. Cash will not be received for the interest until the end of the three-year period. The error was discovered before adjusting and closing entries were posted on December 31, 2017. Ignoring income taxes, what should be the correct journal entry on December 31

A) Interest Receivable 480Retained Earnings 480 B) Interest Receivable 960Interest Revenue 960 C) Interest Receivable 480Interest Revenue 480 D) Interest Receivable 960Interest Revenue 480Retained Earnings 480

Business

As manager of a major producer of automobile airbags, you have recently introduced the following vision statement: to protect the health of every driver and passenger. How can you ensure that your employees feel invested in and inspired by the firm's vision?

A. Ask employees for feedback on the vision statement and revise based on their input. B. Include a "vision adherence assessment" in each employee's annual performance review. C. Hang banners around the production facility touting the new vision statement. D. Give a speech explaining why everyone should support the new vision.

Business

Which of the following statement is correct regarding the quick ratio?

A. The numerator for the quick ratio is current assets. B. The quick ratio is also called the working capital ratio. C. The quick ratio is a more conservative variation of the current ratio. D. The numerator for the quick ratio is current assets minus inventory minus accounts receivable.

Business

Which of the following would be LEAST likely to create an ultralight startup with the goal of selling the company for a substantial profit within five years?

A) intrapreneur B) entrepreneurial team C) classic entrepreneur D) micropreneur E) opportunity entrepreneur

Business