Which of the following is not true with regard to a $3,000, 14%, 90-day note receivable that is dishonored?
a. Accounts receivable is charged with the maturity value of the note.
b. Interest Earned is credited for the interest earned to maturity.
c. Notes Receivable is credited for the maturity value.
d. Interest may be charged on the maturity value while the amount is outstanding.
e. None of the above.
c
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The market rate of interest for a bond issue that sells for more than its par value is
a. less than the rate stated on the bond. b. equal to the rate stated on the bond. c. higher than the rate stated on the bond. d. independent of the rate stated on the bond.
The marketing mix is an assortment of tools that ________
A) marketers use to manage the consumer purchase process B) public relations agencies employ to conduct public opinion research C) marketers use exclusively to formulate MPR campaigns D) media outlets utilize to measure audience response E) consumers use to make online recommendations
Postponement involves?
a. Delay of shipment until payment is received b. Delay of production until materials are available c. Delay of assembly until capacity is available d. Delay of customization of mass-produced product
On December 1, 2016, Sebastian University received cash of $30,000 and a pledge for another $60,000 to be paid in 2017. The amounts are to establish a permanent endowment to provide scholarships for music majors. How should this event be recorded on December 31, 2016, assuming Sebastian is a public university?
A.
| Restricted Cash | 30,000 | |
| Contributions receivable | 60,000 | |
| Nonoperating - Additions to permanent endowment | 30,000 | |
| Deferred Revenues | 60,000 |
B.
| Restricted Cash | 30,000 | |
| Nonoperating - Additions to permanent endowment | 30,000 |
C.
| Restricted Cash | 30,000 | |
| Contributions receivable | 60,000 | |
| Operating - Additions to permanent endowment | 90,000 |
D.
| Restricted Cash | 30,000 | |
| Contributions receivable | 60,000 | |
| Nonoperating - Additions to permanent endowment | 90,000 |