The Truth in Lending Act covers creditors that
A. lend money to their relatives.
B. occasionally extend credit for goods and services.
C. extend credit for real estate.
D. regularly engage in extending credit for goods and services.
Answer: D
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When bonds have a conversion feature, GAAP requires the difference between proceeds with and without the conversion feature should be allocated to additional paid-in-capital at the time of issuance. ?
Indicate whether the statement is true or false
f the organization selects someone who may pose a danger to coworkers and then harms coworkers in the company, what does the company potentially have?
A. A mismatch hire B. A negligent hire C. An investigative hire D. A minimum hire E. A violent phase hire
The profitability of a supply chain is impacted primarily by the
A) design, planning and operation categories of decisions. B) operation category of decisions. C) design and planning categories of decisions. D) planning and operation categories of decisions.
Martinez, Inc. acquired a patent on January 1, 2017 for $40,000 cash. The patent was estimated to have a useful life of 10 years with no residual value. On December 31, 2018, before any adjustments were recorded for the year, management determined that the remaining useful life was 6 years (with that new estimate being effective as of January 1, 2018). On June 30, 2019, the patent was sold for $25,000.Required:Part a. Prepare the journal entry to record the acquisition of the patent on January 1, 2017.Part b. Prepare the journal entry to record the annual amortization for 2017.Part c. Compute the amount of amortization that would be recorded in 2018.Part d. Determine the gain (loss) on sale on June 30, 2019.Part e. Prepare the journal entry to record the sale of the patent on June 30,
2019. What will be an ideal response?