When a bank receives additional deposits, it gains an equal amount of reserves; when it loses deposits, it loses an equal amount of reserves
Indicate whether the statement is true or false
TRUE
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Many social commentators suggest that advertising and other forms of marketing perpetuate negative stereotypes of males, females, and minorities when they segment markets based on these demographic variables and then create ads and marketing
materials specifically for that demographic group. Indicate whether the statement is true or false
Which of the following does the public expect of auditors?
a. Understand and enforce principles that best portray the spirit of FASB concepts. b. Be neutral to preparers and users of financial information. c. Recognize that the investing public is the primary user of audit services. d. Take responsibility for the discovery of fraud. e. All of the above are expectations of the public.
Suffolk Corporation issued $100,000 of 20-year, 6 percent bonds at 98 on one of its semi-annual interest dates. The straight-line method of amortization is to be used. The entry to record the bond interest expense on the next interest payment date is:
a. Bond Interest Expense 3,050 Unamortized Bond Discount 50 Cash 3,000 b. Bond Interest Expense 6,000 Unamortized Bond Discount 500 Cash 5500 c. Cash 6,050 Unamortized Bond Discount 6,050 d. Bond Interest Expense 3,000 Cash 3,000
Tom Reilly, author of Value-Added Selling, says, "Value-added salespeople sell three things: the product, the company, and themselves."
Indicate whether the statement is true or false